The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-10-04
INSURANCE NEWS AND
NOTES

The Mutual Reserve has been licensed
to do business in Michigan.
The Kansas City Life has taken up &C
cident insurance as a side line.
The Hartford Life has reinsured the
Reading Fire, which was established by a
Scotland company in 1867.
A. T. Dean. we'll known as the author
of 1.-THE Rationale of Fire Rates" will
deliver lecture on fire insurance in the
College of Commerce at the Northwestern
University.
Mr.. III. b. Haywood. State agent of the
Hartford Fire, led the discussion on a
paper, How the Fire Underwater is
Made" at the meeting of the Fire Under
writer's of the Northwest.
xxx
Mr.. A. j. Dillon, special agent OF the
Continental at Rochester, Ind, delivered
an address entitled Something More
Than an Underwater" at the recent meet
ing of the Fire Underwriters Association
in Chicago.
1t is interesting to note that while life
insurance started out with level premiums,
then continued with increasing premiums
in the assessment companies. at present
the tendency is to have decreasing premi-
ums as the policy is continued in force
The late D. p. Erwin carried 100000 of
insurance when he was in business on
South Meridian street. but he allowed the
greater part of it to lapse At the time of
his death he had but $4,000 of which $25,-
600 was in the New York Life, and the
remainder was distributed among other
companies.
The ladies who attend the convention of
the life underwriters on Oct. Is. 16 and IL
will be we'll entertained by visits to the
Lockwood potteries and the art museum.
a trolley ride to Fort Thomas, coach
ride, ending with lunch at the Avondale
Club, and a theater party given by the
Western and Southern Life.
Life insurance agency appointments for
Indianapolis are: A. B. Mann, Equitable;
John Nolan, Frank Tyner, Hartford Life;
E. s. Hall, Home. Other appointments
are: ]. w. Sewage. Ocean Accident and
Guarantee Corporation; +. w. Douglass,
Aaron Holman and Dan @. Smith, Pre-
ferred Accident.
All of the insurance agents in Kansas
City were recently arrested. charged with
n violation of the ordinance under which
tax OF 500 is levied upon every agency and
SIS upon every agent. The agents maintain
that the city has exceeded its powers, since
the State laws provide that 500 shall be the
maximum tax upon any one agency and It's
agents.
or 1900 claims reported during the past
year by thirty-two casualty insurance CON-
panles accidents from carriage and horses
make up 27.7 per cent; falls. 226 per cent:
n edical and surgical treatment. 11.4; cars.
81: walking, 90; bicycles, z, and miscellan-
eous. 20 per cent. The average duration Of
disability under all claims two weeks
and six days.
Owing to the large increase of it's bust
ness the Indianapolis Fire has found it
necessary to move to more commodious
quarters at No. 122 East Market street
where 1t will be found In the near future
Its income has grown from s125.ooo in the
year 1891 to over 100000 in the year 1902. If
the present rate continues to the end OF the
year while the assets of the company now
amount to over $4oc.OOO
XXX
Superintendent Yates. OF Missouri.
showed his mettle at the meeting of the
Fire Underwriters by taking a firm stand
against the policy of the Missouri legisla-
tors, and by denouncing the valued-policy
law as the browning i'll of anti-insurance
legislation in that State. He also made
strong defense of the co-insurance clause
and said that the business men of Missouri
now understand that the present laws in
lure themselves as we'll as the insurance
companies
The casualty insurance men are making
great efforts nowadays to sell their larger
policies, since they have become aware that
the wealthy man is usually a better risk
than the ordinary worker. and often a less
troublesome customer TO deal with In case
of partial loss. the wealthy man being more
likely TO settle upon reasonable basis
than his poorer brother. who feels that he
has been wronged and that his investment
with the company should show some re-
turns The clerical work of getting out the
large policy is no greater than for the
small one, and the expense ratio is thus re-
duced.
The recent convention OF insurance COM
missioners at Columbus. o.. was one of the
most important events OF its kind that has
taken place In years. and one most fruitful