The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-04-10
BUSINESS MEMS PLANS
WILL COMBINE TO SECURE FAIR
FIRE Loss ADJUSTMENTS.
An Outline of an Plan which Will Prob
ably BE Adopted-An Attorney to
Represent All Members.

The committee composed of Messrs. ".
b. Burford, J. c. Adams. NJ. S. Huey, Philip
Hildebrand and r. NJ. Seeds. appointed a
week ago to outline plan for an organiza-
ton TO represent the assured upon ques-
lions of insurance ratings and adjustments.
met last evening at the Commercial Club
with all members of the committee and
other busienss men present. III. f. Mat
thews stated the history of the formation
OF the committee and went over some of the
troubles he has been having in getting an
adjustment of his recent loss. Mr.. Huey
said his idea OF such an organization was
one that could represent the assured and
meet the insurance companies in these mat
tiers with men who are well informed and
able to protect the interest of the policy
holder, without the necessity of expensive
quarrels and litigation. He had asked Mr..
Seeds. he said TO outline roughly plan for
the purpose.
Mr.. Seeds said they approached the SUBJ
Ject in no spirit of antagonism 10 the in
surance companies, but it was simply a
question of meeting organization with or
ganization in a spirit of fairness. The in
surance companies like most other lines of
business, had found ii advisable to organize
TO certain extent and adopt uniform rat
ings and uniform methods of adjusting
losses These were matters i'm which the
assured should have some voice. but usually
he has none, because he knows little or
nothing about the subject. The individual
policy holder is almost entirely at the
mercy OF the companies in both ratings and
adjustments, for he matches his ignorance
against the knowledge of trained men and
his individual weakness against their COM
bined strength When a manufacturing
trust is formed. the jobbers in the project
usually find 1t necessary to form an asso-
citation to meet it, but this does nor mean
that they are to antagonize each other On
the contrary, II prevents friction, and in the
same way he felt sure that in the great
majority OF instances the employment of
experienced men TO meet ratemakers and
adJusters would prove more acceptable to
the companies well as great protection
10 the assured. He presented the following
outline of an organization, which was
adopted by the committee:
Il. written and signed compact, with
reasonable forfeit, to act in concert in in
surance matters, the policy of such concert
to be determined in particular instances by
the executive committee, from whose deci-
sion appeal may be taken TO called or
regular meeting, in which a majority vote
shall determine the question at issue
-. sliding scale of dues, decreasing as
the membership increases, sufficient to en-
ploy an experienced insurance man and pay
expenses Of the association.
bers, appointed by the president with the
approval of a majority vote OF a meeting Oh
the membership. to serve one year.
Il. A president, vice president, secretary
and treasurer, elected to serve one year.
10. An experienced insurance man en-
ployed by the executive committee at It's
pleasure. TO represent the members OF the
organization, when called upon by them, IN
adjustments of losses and ratings OF build
ings or other insurable property
j. c. Adams, president OF the Board OF
Trade, emphasized the point that the or
ganization was not conceived In the spirit
of antagonism to the companies. Inc coi OH
mittee understood, as all business men did.
the necessity the companies are under or
protecting themselves and their honest poi
icy holders from constant EFFORTS at lrauu,
from continual carelessness ana from d
lack of attention to proper construction he
pointed out the fact that they nave par
ticularly hard row to hoe in this city, Whlcn
contains many poorly constructed ana ola
buildings and where the fire limit Is small
and continually encroached upon by per-
mission of the Council. On the other hanu
they all knew that the individual pohcy
holder is usually at the mercy OF the COM
panies They rated his building, accepted
premiums upon all the insurance he mlgnt
want TO carry and when IL came 10 ADJUST
ing a loss the insured found that, through
depreciation and other things, ne was not
insured for nearly so much as ne nau pdIu
premiums for. Mr.. Adams had mad some
losses that were fully and fairly met ana
others i'm which he had come out worsted.
while he believed fairness was the rule IN
most instances, it was true beyono cues
ton that in some individual cases the as
sured underwent great hardships II was
this that they wanted to prevent by recon- qn
Cling differences in fair ana equilaple
manner. not by making war on insurance
companies. :, $500 H.. man,
hers of the committee, and upon MS niollv ,i
II was decided that the committee should
90 before the directors of the Commerclai
Club at their next meeting, present the OUT
line of the organization and ask the uiIe
tors to call a meeting OF business men 10
discuss the proposition, and. II thougnl pest,
Start the association upon these lines.