Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-08-22
SPOT CASH
Must Hereafter Be Paid for
All Fire Insurance.
The Northern Kennebec Board of Fire
Underwriters Organized
And. Alter Sept. I. Will Do Business Only on
Cash Basis.

with their patrons on almost any kind
OF credit Bur that is to be changed
now and when you take out policy
you must pay for ii inside of month
or 80 days, or it will be null and void.
The agents in this vicinity are or
ganiZed under the name of the North
ern kennebec Board OF Fire Underwrit-
ers and through the influence of the
companies this board has adopted the
system of cash payments.
The agents in the past have been
obliged to carry many patrons on their
books. Prompt settlements have had
to be made with the companies out of
the agents own pocketbook while he
waited for it to come back to him
from his customers. This has at times
been a hardship, espe cially wheu some
customer allowed his premium To re
main unpaid for a year or more. The
agents have been discussing the mat
ter for some time and have at last hit
upon q plan that is generally Satisfdc-
tory.
This is what is known in insurance
circles as the Troy syst. N and IS used
in Troy, y. ". from which il probably
takes its name. The system WORKS
perfectly there and the customers OF
the agents would think as much "i let
ting the inter. SITS on 4 note oVciruh aS
10 neglect payment Of their premiums
Ii has never been used extensively III
this State and its workings VIII there
for. be watched with much interest.
Th. Northern kcnnebec Board OF
Fir. Underwriters covers the krnnebe'
valley from Augusta to Skowhcgan ana
clinton The Augusta agents haN" an
association of their own similar tn this
one and thos. of SkoWhe are not
included in this plan. The towns OF
Fairfield. Oakland. B-nton. Clinton.
Benton Falls. Nassalboro. Sidney.
Smithtield and china are included with
WaterVille
At the meeting al which il was d-cid-
ed to adopt the Troy system two thirds
of the agents in the territory mention
ed We're present and We're enthusiastic
over the plan The feeling is almost
unanimously in favor Of the scheme
and there, seems to he little doubt but
that it can be made a successes. tn"
working of the system is clearly set
forth in the rules ana regulations Civ
en- below.
All the business men To whom tn"
plan has been explained are in favor
Of it and the insurance companies Of
which the agents are representatives.
are Of course among its strongest back
us 1t is system OF protection that
is intended TO work both for the advan-
tage of the customer and the agent.
Briefly. the plan is.
You take out a policy at any Of the
agencies included in the board ana are
given 4 certain length Of time in which
To pay for il. If at the expiration Of
that time your premium is not paid
your policy becomes void. Then you
cannot obtain another policy from any
other agent in the board until you have
settled for the time your policy has
lun. Your premium must then be paid
to the second agent for the second pol
icy in the stated time just as the first.
You must be square with one agent
before you change to another one and
Your premium must be paid in the
stated time to make your policy good.
The agents have a system for keeping
track of you so that you will all fare
alike.
Thus. for instance. ii you take out a
policy and the premium is not paid in
the required time your name is sent in
TO the board committee appointed for
the purpose and the bulletins are sent
to each member Of the board stating
that you have not paid according to
the rules Then you can not get a pol
ICY from anyone in the board until you
have settled with the first agent with
with whom you dealt. If perchance an
agent should give you a policy before
he receives the bulletin he is bound to
return it to you with your money if
you have paid him. There is nothing in
this to prevent anyone from dealing
with any agent he chooses so long as
he keeps square. But when you run
behind the trouble commences
The plan hes been thoroughly dis
cussed and is now ready to go into eff
feet. Sept. l. From that date it will be
followed with the proper provisions for
business written previous to this date
The time allowed for the payment of
the premiums is very generous and is
about double of that given in Troy.
where the system is used. The follow
ing are the rules which have been
adopted and which will go into effect.
Sept /:
NEW FIRE INSURANCE RULES.
In consequence of the demand made
by the insurance companies for the
prompt remittance to them of premiums
on insurance policies issued. the North
ern kennebec Board Of Fire Underwriters
is obliged to insist upon the following
rules regulating the collection OF pre-
miuins:
Section 1.-The premiums on all policies
shall be due and payable on the DAY the
policy is issued.
Section THE premium any policy
shall not be allowed to remain I'M
collected beyond the end Of the month
following the date Of its issue and in case
Of the failure of the agent to collect the
premium in such time IL mast be can
celled in accordance with the following
rule.
Section 3-After acceptance these rules
shall go into effect for business com
mencing Sept. ! 1891. but shall not affect
business written previous to that date.
All such previous business, however
shall be collected or cancelled on or be-
fore Nov. L. 1901.
Section 5-Ths shall also apply to
agents collections from the brokers' with
whom they do business in the territory
Of this board.
Section Gin accordance with the above
all policies that are delivered alter Sept.
l, 1901. on which the premium has not
been paid at the time of delivery shall
hear a Sficker with tho fnllnuin. Uor1c