Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1901-07-11
MAINE INSURANCE
Annual Report Of Commissioner
Carr Made Public.
decrease in Losses and Increase in
Business Shown by Figures.
"""osF " Recommendations Made Record
q Fires In State.

State treasurer during the mast wear
amounted to- '$l3. 4OS as follows: For IL
censes to 40 companies, $1,000; for Ii
censes. to 1887 agents. $S744: for H.
censes to 1O1 brokers. 800; for license
TO one special broker, $50: annual ex-
,aminations Of five companies, 500; FL
ing annual statements, two companies.
$2o: filing annual statements, two COM
panies. $40: miscellaneous receipts, s44.
The risks written by fire insurance
companies OF other state end countries
J on Maine property and reported to this
department for the last year amounted
TO $l33, 1886 O6.49. which is the largest
amount ever written N this State i'm a
single year and again emphasizes the
fact that the business of fire insurance
showing as 1t does q steady Growth
in Maine during the past seven years
is more than keeping pace with the
growth and development Of chr State
and is commercial necessity of sufIi-
cient magnitude to affect the interests
of every citizen of our commonwealth.
The premiums collected by these
companies on the risks written in
Maine during the past year aggregate
$1.112, 10l.s2. a decrease Of ST. ,099 - from
Il.
The average premiums collected dur
ing the year amounted to $1.33 for each
500 insured which is the smallest
! amount charged during the past Il
years. Since 1895. when the legislation
of 1898 was repealed and the standard
policy law and the statute relating to
the investigation of fires enacted there
has been a constant decrease in the
average rates of insurance.
\ The losses paid during the past year
\ amounted to $685. 163 Ga decrease of
| $50, 20S.63. from those of the previous
year. The losses incurred aggregated
| 81 .050. 326.;9 showing decrease OF $50
1853. from the losses incurred during
the previous year. The losses during
the past year We're 55.i9 per cent. of the
premiums received against 1896 per
cent. for the previous year and the
losses incurred 1925 per cent. against
| 1874 for the year preceding. The
above figures. however. do not fully
represent the amount of fire insurance
transacted in Maine during the past
wear. Returns have not yet been re-
CeiVed from many of the domestic Inu-
tual fire insurance companies, which
the preceding year wrote $5.52? 5.l g.
1t is presumed. however, from the re-
ports already filed that this class of
corporations during the past year will
exceed that of the previous year. These
c ompanics are mostly organized and
conducted by the farmers of our State
for mutual prOtection-many of whom
are unable to procure insurance in for
eign companies. and are examined hi
ennially by this department as requir
ed by law and have generally been
found to be doing a safe business and
furnishing their patrons adequate pro-
lection at small cost and their in
terests should bc Zealously guarded
and protected.
I desire again at this time to call at
| tention to the so-called mill mutual
insurance companies which insure
many of the manufacturing establish
| ments in this State-the insurance be
| ing effected by the owners or agents
| of the property with the companies di
rect and without the Intervention of
the third party. These corporations
| have no agents or representatives in
Maine; pay no fees or taxes to the
| State and make no report to this de-
/ partment. There is. therefore. no
| means of ascertaining the extent of
| their transaC tions, which are extensive
and If reported. would materially
l swell the volume of business and
! earnestly recommend that some action
| be taken to require these corporations
| to transact their business in the usual
manner and contribute their share of
| the fees and taxes imposed by law up
| IN fproipp ipc,irauce COmpJnieS
The percentage Of fires of unknown"
and incendary origin. has increased
since the enactment Of the law provid-
ing for the investigation of fires. In
1886 the percentage of incendary fires
was S.64 and of unknown fires "2.54
During the past year the percentage
Of incendiary fires was 1.S5 and of I'M
known fires. 1887. There were only 30
inccndiary fires in Maine during the
past year. against So for the previous
year, showing a decrease of 1886 per
cent. in the fires of inccndiary origin
during the past year,
The record Of fires in this State dur
ing the past year shows slight i'm
proyement over that of the previous
year. During the past year there were
1857 fires reported to this department
exposing 81 ,035. 943.01 of property ana
.. damaging the same to the amount OF
1856, 600.3S, and as there were fires in
.. unoreanized townships from which no
} returns could be obtained it is proba-
bic that the property destroyed by fire
exceeded s., OO0. OOO--Only about One-half
of which was insured. This enormous
waste is altogether too large and some
further action should be taken to re-
duce the same and save to the cities
and towns Of this State thousands OF
dollars of taxable property which Is
annually being swept from their valu-
atoms never to be replaced.
, During the year there were 293 fires
which were attributed to defective
chimney flues exposing property to the
value of $685. 80. and damaging the
same to the amount of s261 .272.23. Ir
!. my opinion a very large proportion OF
: this loss might have been averted by