The Waco evening news. [volume] (Waco, Tex.) 1891-1894, 1894-06-13
10 Protest Against the Co.
Insurance Clause
2etently Adopted by the Texas Board Of
Underwriters Representatives
Gathering.

parlor Of the Pac fc hotel Mr.. NJ i.
Iasker, chairman of the committee
of eleven appointed by Capt. James
Clarity Of Corsicana, called the
committee to order, q majority
being present.
James III, Quarles was elected
secretary Of the committee.
Mr.. Sam Sanger of this city
suggested that Mr.. Lssker give
what information he could on the
matters Of interest to the convention.
Mr.. Lasker said that he had in d.
vestigated the question and believed
n co insurance, so that both the as
sured and assurer could be interest
ed. He did not think the present
60 insul auce clause is exactly what
is proper. He had recently been to
New York and he finds the people
Of that city in the same condition az
IN Texas. The insurance companies
had treated the assured in such way
chat the merchants had been forced
from cooperative associations
known as Lloyds- Associations for
mutual projection. In New York
ahey suffer from the same
trouble as in Texas, indiscriminate
insurance. These Lloyds are com,
posed of the best merchants. They
have no solicitors. The mem bars
give their insurance to each other
and each member is solicitor for
she associations in which he is in.
terested as ? member, showing the
losses, if there be tiny. All poll
oies are passed upon by an exam
ming board. The plan Of forming
these Lloyds.is for twenty or more
men having confidence in each
other, subscribe $50, 600 each
paying in so per cent cash. Each
- responsible for his proportion of
each policy issued Whenever
ioss occurs it is paid out Of tie
premiums. If that fund is not
sufficient, it is paid out of the
reserve fund which had been paid in
by the incorporators. The members
are then assessed TO make up the
de felt. SO far the premiums have
always been Of an amount sufficient
30 pay all losses
Mr.. Lasker then reoited the action
of the co.insurance convention in
Dallas, and the facts that led up to
She meeting Of this committee
He then outlined a plan which he
believed would be feasible which
will be given for publication later.
A letter was read from Hon.
Bryan t. Barry, of Dallas, giving
his views and stating his inability
to be present. The communication /
was ordered incorporated in the
minutes.
On motion of Mr.. Higgins the
committee adjourned until . p. M.
This meeting is the result of the
follow ing resolution passed at the
co-insurance convention held at Dal.
Las, May s:
Be it resolved, That q committee
of eleven representative business
men throughout the state be ar
pointed by the chairman of this
cony ention to formulate a plan of
relief in case the insurance compa.
mics do not see proper to furnish
relief as asked for in the resolutions
and petitions this day passed by
this convention, and that said com.
mlt'ee at a meeting to be called fer
chat purpose, subsequent to the
meeting to be held by the insurance
men called to meet at louisville,
Ky May "a, 1894.
That such committee be requested
TO gather such information "a may
oe Lecessary to act intelligently
lpon organization of local insur-
'nce companies for the protection
IF citizens Of Texas from extortion
Md unjust charges and conditions.
= A nong those present at the meet.
ng today are Mr.. Lasker, Calves
on; G. j. Sorrell, Hillsboro; James
4srrity, Corsicana; G, r. Rey.
olds, secretary Dallas Commercial
)lGb, j. w. higgins and Sam San
er, Of Waco.
The resolution passed by the co.