The times. [volume] (Richmond, Va.) 1890-1903, 1902-02-12
A SKIN GAME OF
FIRE INSURANCE
Great Dissatisfaction With the
Adjustment in Norfolk.
THE POLICIES SCALED DOWN
The Face Value Not Allowed Where the Bills
for the Goods Lost are Shown-Action
OF Out of Town Representatives
Not Endorsed by Home Agents.
Especial Dispatch to The Times.)


NORFOLK, VA, Feb. 1.-THE expert
ence OF many who suffered loss during the
Atlantic Hotel fire who held insurance
policies upon property DESTROYED and the
details of the settlement of their losses
are highly interesting to all who hold
insurance policies.
There is great dissatisfaction among
policy holders with the action of some OF
the insurance adjusters representing COM
panies who had risks
One man who had a policy for say
5000 on furniture destroyed, presented,
it is stated, a claim for that amount
lie was asked to produce bills for the
articles destroyed, and as the things were
bought within a year or so, secured these
bills, which, it is stated, aggregated about
one-foucth more than the sum for which
they wero insured.
POLICY. SCALED.
Now he thought that he would, when
he made this showing, be paid the face
OF his puIicy. He erred The adjusters
are reported to have discounted the claim
forty per cent, alleging that the property
had deprecated that much by usage
This brought the unfortunates claim
for 5000 down to, say, $500.
The claimant, a. man OF comparatively
small means, wishing to re-enter business,
then allowed the insurinG company 10
discount the bill one per cent. and now
hopes to get his money.
Flo had been paying premiums on a
$4,000 policy, and when the loss came re
ceived, say, s3,564.
THINKS HE WAS ROBBED.
He thinks he was robbed, because he
was not able to fight the insurance COM
pany in the courts, and is by no means
alone in thinking so.
Another policy-holder, who held a
blanket" policy, it is stated, was told
by the conpany's nonresident represent
alive that the company would not con-
slider that policy in the settlement me
Norfolk agent Of the insurlng company
is, reported to have said that the insured
had paid $40 for the policy; that he had
hoep cheat And on the spot promised
the insured to pay him back the $40 from
his private funds.
Norfolk business circles ring with these
matters, and one of the companies, winch
is charged with s'skinnins' a fire sufferer
to the extent of 81, SC0 will, business men
say, thereby lose a 100000 line or lnsur-
ance they have here and probably as
much more.
A COMPANY THAT PAID UP.
One Connecticut company, It is stated,
sent a representative here, who paid the
face of the company's policies on the
property burned.
Norfolk business men are saying that
the custom of insurance men OF accept
ing, say $1,000, and paying when loss
occurs far less than the face value, Is
little short Of robbery under the laws,
which, perhaps, insllfficiently protect
the insured And it is said that an effort
will probably be- made to compel 1nsur-
ance companies to pay the lace Nalue OF
their policies when loss occurs.
There are signs here that legislative
action will be asked for and that existing
laws shall be changed. The value OF a
fire insurance policy is regarded by a
good many Norfolk business men as
somewhat problematic.