The Portland daily press., 1896-06-05
s1o7. 1S9, O92. IS
Total,

Special brokers' lao, $50 90
Total, S1o7, 1S9. 092 35
The marine and inland insurance writ
ten in Maine in 1885 amounted to $lS,
909 058, of which SIS, $780, 751 was written
by Maine companies, and SIPS, 307 by
companies of other steues and countries.
This shows gain of 1899, 159 as compared
with the amount written in 1894. The
ratio of Losses TO premiums on marine
insurance for 1895, was 1910 per cent,
against 60 81 per cent in 1894.
Fire insurance companies in Maine
wrote insurance amounting TO s102, 2l1,
026. IS during 1895. and collected in premi
ulns in the State during the same period
81, 576, 4S9. 60-the largest premium re-
ceipts evsr reported to this department.
in q single year.
The losses incurred amounted to 1926,
1853. 10, making the business of 1895 very
profitable for the companies. But, it
should be remembered, that equitable
rates cannot be predicted upon the profits
or losses of single year. 1be CLOSES
paid'' in Maine during the past five
years average 63. AZ per cent OF the "pre-
MUM received" to which should be ad-
ded at least 80 per cent of the premiums
for commissions and expenses, making
the average annual expenditures of the
companies on account of their Maine
business, 9S. AZ per cent of the premiums
collected in this State.
q The report says: II feel that I cannot
too heartily commend to consideration
the results of the judicious and conserva-
tive legislation of 1895, in consideration
of which the companies made a reduction
n rates early in the year that resulted
in saving in premiums Of at least $50, :
600 to the people Of this State"
Regarding the law passed at the last
l II, Al. -.
officers to Investigate fires, the damage
to, insurance upon, and paid in each
class, the results have been beneficial.
The clerks, in some cases, however, hav o
| omitted full descriptions of certain kinds
OF property destroyed, thus handicapping
the department..
From May 26 to December 81, 1896, the
returns showed losses amounting to ST.
| OBS, 007. so; assuming this to be fair
| average, the total loss for 1895 must have
been something like 81. $50, 600 The
| commissioner recommends this enormous
fire waste to the attention of the Legis-
| lature.
| The figures show that the losses have
in very many of the TRES, resulted from
defective construction of buildings, or
| else causes that were avoidable. More at
tention to the inspection of the buildings
is called for by the commissioner with
| the recommendation that the municipal
| authorities use the greatest care to choose
| competent inspectors.
The interesting point is brought out,
that, while over Al per cent of the total
number OF fires were reported as ''incen-
diary" not one case Of legal proceedings
has been instituted against suspected
parties.
The case of Boston is cited for @exam-
pie, where, after the establishment of a
fire marshal, the convictions for incen
dia risrn increased over 400 per cent while
the number of incendiary fires were re-
outside of Boston after the creation OF
| a fire marshal for the commonwealth a
| striking decrease resulted.
Of "over-insurance2 the commissioner
makes a general warning for by the
standard policy now used the companies
are not liable for moro than the actual
value of property destroyed while it may
| be insured for even twice as much Us it
| is worth. There is an encouragement on
| the part of agents working on commits
| sion to do this while it lays with relia-
| BILE business assurances to look after
affairs honestly. Should the practice be
| continued of allowing agents TO accept
| risks for large amount and OF making
a compromise settlement in case of II
total loss 1t will result in Maine as it has
| in other states of compelling the eompan-
named on the policy.
| The report on fire insurance says in
conclusion: "This department. has re-
oeived many Inquiries from parties who
have contemplated insuring in these
companies and from others who were
unable to collect their indemnity for
losses sustained. To the latter it is i'm
possible to render any assistance and to
| the former we can only say If you desire
| insurance that insures, place your risks
| with resident agents of companies licensed
| to transact business in Maine :"
"In regard to assessment insurance the
commissioner says: 1.-THE methods prac-
| ticRd by the assessment companies have
advanced by such rapid strides during
| the past few years that our laws regul at
ing these associations are anti quated and
Inadequate All progressive, up to date,
companies now collect the estimated cost
of insurance at stated periods in advance.
reserving the right to call additional as
sessmeDts if their estimate proves in
sufficient to meet the Losses ana expenses
of the company-thus substituting the
| advance payment for the after death
or post mortem' method practiced wheE
the present law was enacted. Some com
panies are advertising policies promising
cash surrender and paid up values a.
| -. N