Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1889-02-28

the Moraiag Nesos, relates his unsniisiac.
tory experience with the Dover Glass
Workh' fire losses as an argument in
support of his .'valued Policy" bill, now
sder consideration by Senate COM
se. The story is as follows.
persons In Dover, including myself, |
the Dover Glass Works $1,000, took |
q SBge on the works for security and |
hat france policies transferred to us az
Celia Il In case OF 1te. Well, the fire |
came. The Mutual Of New Castle county, |
TO their credit, paid their loss. OF the
other companies (he names OF which |
will not give, as wa expect to give them
until court sits to settle, and IL not settled
shall comineace suit against then), one,
policy 81, l25, offered to settle and pay 50
cents on rbe dollar; auothsr company,
policy Sa,250, refused 70 pay, as they had
ordered tueir policy called In, but the fire
came before the agent received the policy
and he did not offsr to return the premium,
rs he had not received the policy back be.
fore the fire: four companies with policies
OF Si,I50, $3.50, $500 and $500 respectively,
all refuse to pay and say that tho policies
are void peeaoss the sheriff had an exeau-
ton on the property; one company, policy
$500, worthless. But ell Of the above COM
panieB received thalr yearly premiums
continue to recelvs them as long as offered.
We should gather from this narrative
tl,st, with the honorable exception OF the
New Castle County Mutual, the glass
works men we're exceedingly unfortunate
in placing their uolieiss and that the first
great need, accepting MIR. RiohOrdson's
side of the story, is Of some organization
that will adequately insure such insur-
snoe companies. Whist effect would a
law requiring the payment Of the full
face OF a policy have upon companies that
refuse, under legal technicality, to con-
slider themselves bound to pay anything
Such is the position taken by
those liable for the greater por.
ton OF the loss in this case.
They are not, as we understand Mr.. Rich.
ardson, quibblins over the relation of the
loss to the insurance, but are nat-footeily
declining to pay anything at all; and it
does not appear that the valued policy
principle touches theis position. They
claim, not that the property was over
insured, but that the poiiciss were void.
The equity Of that claim docs not show
up In favorable light for the companies
referred to when contrasted with the go.
tion Of the New Castle County Mutual /;
but We cannot understand what tho "yal-
ued policy" question has to do with this.
But, on ths other hand, when the in
surance commissioner Of the State says,
In his ofioial rsp1rt, lin my opinion
nothing can give greater encouragement
TO incendiarism and frau1," ha states q
square and exceedingly grave issue for
the advocates of valued policy insurance
to meet. And he is backed up not only
by the utterancss o; high authority in in,
Bnrance circles, but by the actual figures
nf increased iassA4 in stetea which hava
4 tho Htdr that Ma Bieassa
80 wishes 10 iu,rotHa t7~"re
We find, hFst on the list 0. sHaa authosi
ties, the Chicago convention OF state in
surancs officials resolving "that Law
which compel the payment Of the fui
amount written in tae contract Of FIRE in
surance, though the sN.ual loss be shown
20 be less, are rspug nant TO just Insurance
principles ac3 enlightened publ
policy" We fad Ge5rge j.. Chase
chairman Of the committee on Legislation
md taxation of the National Board o
Fire Underwrltara 10 . letter urging Ia
:epesi OF the Ohio valued policy las
saying ut cozcc-cs every citiaaa of tn
Ssate. Tne company has remedy 70
every eurdeninp2ssd upoa them. They ca
ADVANCE thsiE rates or withdraw from ii
dsld. But the State has no ESCAPE fF1I
.hs are loss which We fear has bsea /
part supsrinduced by tho Valued Polio
,sy. This rates ara advanced because
unvise lava; the peopls pay them, aud
the companies mako gooi the ira loss {
the individual, they only disTpsuts VII.
has hesn collected OF the whole boiy, !
thst the loss by FIRE falls upon the COZ
rlonwesiIb, whatnar tho property is i,
cured o. not, We mud, from the Ohio at
t;stics that the destruction OF propsrt
by Are ia inst stats scEually ii
creased from / cents 10 6s cents q
s,sry s,oa v,,,tsr MN. ~ - !,
poransoYz ino,oa.a ~ III sa,,o 49,
throughout ina \, IL, rono,,g j
bnt a t,aet;on gv5, q 40. ca,t IN, Il
homes. man srp savs NJ y : Hs.l,
p,aa;8snt n ,sa Na,;oral Ro,rT a. NJ,
Unaervr5..,s .et,i. law ogs,, ~ ,3H
c,ent ,nreesma,s ~ ,,s,i.,.y ia 49,.
bot n, ,3taa,nast n 4 ~ ,,.'.,,, IS,
,nan,};,., ino.p.iy. Il ,rima Nh II n.
eo,,.aa is 81. ,t,.y,I. ;..et,.t.
Of It's ,srr,bl, inrstan,,. iysa,a kbras
5ur niljicas AZ. taa NIL, raisi' h, !,
aisanest minority a OHIO - ira j