New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-05-19
TO RAISE INSURANCE RAIES.
FIRE UNDERWRITERS ARE ALARMED.
THEY SAY THAT THEIR LOSSES ARE UNPKhCI'

THEY SAY THAT THEIR LOSSES ARE UNPREcE-
DENTED-INCENDI ARIsM INCEEA,lN''
The twenty annual meeting OF the Na'loha
Board OF Fro rndcrwriters was held yesterday In
the rooms Of the Ncw-York Board OF Fire 'huer
writers, at No. 81 NassaI-st. d. W. - '"'i'o'' ~
Hartford, presided. and read the ahh"" '"
said among other things that the members "eir S''
cred for their annual meeting at cri.'cai YIN" :"
American underwriting to review the mA'o'! Vi Z"
years business and TO determine, II possiDc' "p" "
plan OF action which would establish their o"S'"'S'
again upon lines OF prosperity. lie said that III tue
last year twelve companies had joined the oo"'u
making present membership OF eightX-seVeh' 'i"',
the last annual meeting. the president anho""c'u
the co-insurance clause had been adopted ior s''"
application throughout large part OF the co"",''
but the application of rules governing the same nau
not been uniform. The president reconmeh"eu 'i''
the board should adopt rules Of uniformity.
lie strongly urged advance in rates. TN 'n''
subject he spoke In part as follows;
In view Of the facts presented to-day, the purnins
experience each and all have been passing
and the slight encouragement we nav ~ n am surc
any material reduction In the loss ra'lo' am SUI" T.,
the average rate. The candle has been burning nore
rapidly at the premium than at ue ips s secring Of
advance in rates of premiums should W our "'S'
duty. .,,o, A.. ,no
take the work laid down some years snce a,n,S
II such action is deemed wise 1t is for this meeting
TO give the necessary directions to the Exscutiv I'VE
work that they Shall endeavor to take up
In the matter of a reduction In rAp,nses "" Nh m.6
has been attained in material proportion of our
territory by the very successful Workings ni VIA
ncvcd by many that the situation is ripe for FUR
Their extension Of the field OF the compact ana the
sweeping away OF all city aud territorial exceptions
II Is for Us to-day TO inaugurate, or pave the way
for inaugurating. healthy change II we desire
Ing more complete control OF our business W.
must aid the different associations In their cforlS
premium, the Uniform use Of properly drawn pohcy
contracts and u SIN further reduction In expenses
and all this by united. concerted effort
Tho Executive committees report Viewed WIN
concern The vast increase Of the fro loss In the
country in 1892. II estimated AT Sl5l,1i''o'o'
IN increase over 1891. when the fire loss was I'M
prccedentad. The losses since January l. lo7'''
have gone at the same rapid pace In cohnectoh
with this report the members OF the board said that
they feared ncendarism was on the Increase. ana
the Arson Committee moved that It's power; be so
extended that II could increase the offers OF reward
for the arrest and conviction OF inccndarlcS' Inc
motion was passed. The report OF the Committee on
Jnccndiarsm and Arson showed that 2l2 offers had
been made. and that rcwar;s amounting To sl'"V'
had been paid since the fund had been established
In 1873 1875 rewards had been paid resulting IN @'''
convictions at expenditure of Sj1,5'l.
The chief point of interest in the report OF the
Committee on Legislation and Taxation was the re
port of bill passed In Tennessee requiring al ~,
surancc companies TO pay Their polcyholdcfs the iu
amount OF loss sustained upon property Insured Dy
them provided the amount did not exceed III" amount
of insurance expressed In tho policy. and that all supp
ltions IN such policies 10 the contrary were ana shonu
be null and void. The board indorsod The bill .
one OF the most important topics considered AZ inc
meeting faulty construction oil building
John w. Murray OF the German American FIR" IN
slrancc Company. read paper on this subject, In
loss was due principally 10 the imperfect constrnc
ton OF buildings. Another topic which called J"r'h
considerable discussion the amount Of pcrccniag
10 be paid to agents and the number of DAYS mat
credit would be given them II was recommended
by the board that commissions shoild not run mgher
than Is per cent. $1,000 A. 49,,
wear: President D. W. G. Skilton. OF Hartford vice
president Thomas II. Montromcry. OF PhilAhcipha :
Secretary Robert r Bcath. Of Philadelphia reasir'r
Frederick W. Arnold, ~ Providence
There were many well known insurance men NJ
DeImonico's last night II was the occasion Oi the
ANIMAL dinner Of the National Board OF firc under.
writer's and representatives from all me prominent
fire. insurance companies in this part Of the country
no regular toasts given but many bright re-
marks on topics relating 10 fire Insurance ana the
men who represent It were made: some OF thoNc
who gave short talks ID. W. {. shelton. oi
Hartford: Frederick W. Arnold 81 Providence; Henry
f. bowers. Of Now York: H. II. Hall, Of New York,
and r.. a. Walton. Of Philadelphia. some of the
Others who were present Thomas H. Mon'gom-
cry. Robert Il. Beath. II. X Miller. John W Murray
Il. ID. Benson, George ". blossom. samuel ID. Bag
den David Adec. e. l.. Case. George Il. Crawford, y.
Il. Kennedy James Nichols, {. ". Kellogg, W. j.
IartOu and III. ". Eaton.