The Opelousas courier., 1893-07-01
Fire Insurance.

an imposition, doubtless prevalent
throughout the State, and of which we
of Opelousas, have been the victims
for years, in the following article,
which also has the merit of suggesting
a feasible plan to remedy the extortion
of this insatiate monopoly. The Truth
says:
IT the several companies of the in
surance combine are determined to
confiscate the property of the smaller
cities they are going about it in the
most approved fashion by putting their
rates up to the very limit of endurance,
No matter how rapidly city may in
crease its fire extinguishing apparatus
Or provide against the chances of fire,
notwithstanding danger of conflagra-
ton is kept down to the minimum
mark, still the rate of insurance climbs
steadily up and has already reached a
point where it becomes a debateable
question as to who is best off, the house
owner or the tenant?
When this city was far smaller than
now, with but two fire companies fur,
nished with antiquated apparatus and
no other means of fighting flames, tire
rate Of insurance was one-halt less
than now when we maintain seven
strong we'll equipped companies and an
excellent waterworks system. AS a
sample of the cupidity and outrageous
oppression of the fire insurance COM
panies we note the extravagant rate
placed on block of buildings on Third
street which have had their insurance
advanced from two and one quarter to
four per cent, and this rate maintains
everywhere in our principal streets.
Four per cent. is but slightly less than
thorough and complete contiscation,
being almost double the tax levied to
maintain the municipal, parochial
and State governments, and something
must be done in the premises or prop
erty must stand uninsured. 1t had
about as we'll burn down as be at the
mercy ofinsurance companies as now
managed. The home company is
forced to demand the rate of foreign
institutions for the reason that if a cut
be made by the former the latter vjl
refuse to take a portion of the risks
which for want of sufficient capital the
home com any is compelled to place
with them.
The only plan we can suggest to save
ourselves from the extortionate de.
mands of foreign companies is to ere
ate q mutual insurance combination
based upon the installment plan as IN
the case Of building associations in
this way premiums will remain at home
instead of going north or to Europe
The plan is feasible one and could bt
worked up Fire losses are not as GER
tain as death losses and yet this class
of mutual life insurance has been very
successfully carried OH. We make these
suggestions for the benefit of suffering
house owners while asking them to
give the matter deliberate cOnsidera-
ton, as We have arrived at point
when we must decide between no in
surance or confiscation.
New York, Feb. l3.-The Herald
this morning prints a three column ar
ticle which, it claims, proves that there
has recently been formed among thu
fire insurance companies doing bust
ness in New York a combination
known as the tariff association. 1t in
cludes without an exception every un
derwriting company in the city, and tt
all intents and purposes it is trust o
the most threatening character.
The Herald claims that assurance
men operate entirely through thi
"secret tariff" association, which ha
an iron clad constitution.
Though preserving seperate organ
ization, it is asserted the companies ar
all powerless to take individual actor
in any case. 1t is further stated tina
British capital is in control of the com
| hination.