The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1893-07-14
A ROW IN THE CAMP.
Local Insurance Agents Have q Little
Dispute OfTheir Own.

Local Insurance Agents Have Little
Dispute ofTheir Own.
1t has beer kept tolersbly quiet but
has at last leaked out that all is not
harmonious, serene and happy among
the local board OF underwriters OF
this city.
To the uninitisted it may be well
to state that there are such things as
board companies" and "nou-bOard
companies" The board companies
are simply combine to protect high
rates. They meet together and fix
rates to govern themse yes, and then
no member OF the board, nor any
company represented by any mem
Der OF the board, is allowed to insure
any piece Of property at q less rate
! than the board rate.
! This is very nice arrangement for
! the "Ooard companies" and as long
rs the agents tote fair" with each
other, a. fair for ore rs for the other.
But We have always thought It an in
/ Justice and hardship upon the people 4;
| IL prevents that competition which
I alone fairly regulates the price OF
! anything. In short il makes ana
] keeps Insurance higher than it ought
to be and higher than it wOu d De,
except Tor this combine"
The nOn-bOsrd companies fix their
own rates and allow their agents to
take insurance ut what they think ii
is worth.
The old board OF underwriters of
this city had good deal of trouble
among themselves. Mr. Elan wa
fined once or twice under the charge
of cutting rates, anu finally there
was so much complaint OF rate cut
ting that the board disbanded and fol-
a time there was no board here. Blu;
about month ago there was AL
effort made to REQ gAniZe, and the
agents, or the majority OF them me-
for that purpose. Mr.. PILLOW was
elected President of the Board snC
Mr.. Rutledge, Secretary, and Mr.
Elam chairman of the rate commit
lee, and all proceeded very smoothly
until Mr.. Rains made an attack upon
the Georgia Homes plan of doins
business. This plan OF the Georgia
Home is to insure farm property apC
residences for term OF five year
for one.third cash, with notes run
ming one and two years for the de
ferred payments. The rule OF thu
board companies is to charge it al
cash down. The HERALD cannot Sc,
any reasonable objection 10 tn
Georgia Home plau; it ia an cas-.
way for the insured TO make his pay
, ments, and # it suits the Georgii
Home and property owner, we do no
see who else IS legitimately con
cerned. That is the way it will strik
all the uplniaied.
But those in the combine It strike
very differently; so when Mr.. Rain
made his objections to the GeOrgl
Home, his objections were unani
mously sustained, and the afOresai
plan Of PROCEDURE WAS voted TO b
very uUprOfessiousl and wild-catist
) auu the Georga Home was Gale
. upon to "desist" OF get out"
$ Hendlev & Wilson represent tn
=, Georgia Home, and Mr.. Hendley wa
q. present at the meeting. He took tn
i ground that his company had tn
l right to manage its own business, an
J declined, both Tor himself and tn
:, Georgia Home, to become member
i of the board.
Hence the chasm. The Georgi
!, Hons continues to allow deferre
a payments, aud .Hendley & WisO
: are not bound by board rates exceI
when they clio 'se to follow them.