The sun., 1902-03-11

The average premium charged for each
500 Of insurance was increased from 81
TO ,e7, and to this fact the improved con.
dition of the business for the year is doubt,
less due.
The fire losses incurred during the year
in this State were sI5,O37, ,4O5 40. as against
si0,377, ,644 90 in 1900 This enormous waste
Of the property Of our citizens and the
heavy tax imposed upon them for fra
protection. says the Superintendent, il
matter for serious consideration on the
part of the Legislature and our local mu-
ncpal government, for the purpose Of
ascertaining whether local building laws
may not be greatly improved and more
strictly enforced.
The Superintendent recommends legis-
lation giving the department supervi-
sion OF insurance associations known as
-Lloyds.
The aggregate assets of the domestic
and foreign fire and marine corporations
doing business in this State on Dec 81 last
were 1921 72s 32s the liabilities, excep-
ting capital, sl82 o07 ,62o, an increase of
sll.706,Ssg The receipts for 1901 were
sl78O70, ,726; net excess Of receipts over
disbursements, sli,e75,05s. One hundred
and fifteen companies received sis, 49,
097; more than they disbursed, and thirty
seven companies discussed 81 ,79i ,039 OF
more tha they received.
At the close Of the year i6o companies
we're covering s23 ,023, 745 ,006 OF risks In
force. During the year these companies
with the exception OF the New York
mutuals (5). for s24o. o.7ls,l52 In gross pre-
miums, undertook to carry s24,els,237li2
Of risks, an average premium OF 81 for
every $loO insured.
OF the receipts, sl72, ,sss, ,aes was received
in premiums, sl0l 00l ,227 was paid for
losses, s63 ,035,lel for expenses and se,osi.-
ISL for dividends.
An exhibit of the business done last
year in New York by the joint stock fire
companies OF this and other States and
countries, and by the mutuals OF this and
other States, shows that the fire premiums
received were s27, 720 ,32o; fire losses paid,
sl4,4l3 1884, fire losses incurred, l5.oS7 ,+Q5.
The estimated amount Of expense for the
transaction of this business was 39.2+0, l08,
which, If added 20 the incurred losses,
makes a total Of s24, ,277, ,5l4, showing. as
an apparent net excess Of fire premiums
received over fire losses incurred and esti-
mated expenses Of s., ,442,sl2
The amount Of fire risks written In 1901
was 81 ,0S3 $50 1852, an increase Of s492, ,270, $50.
The amount of marine and inland risks
written in 1901 was $537 ,655, ,90S, an increase
Of s7.74s, ,60+.
At the close OF the year 1901 the fire,
fire-marine and marine insurance oom-
panies doing business in this State were
possessed Of $3il ,Oo4, ,si3 Of admitted assets,
not including assets held abroad nor
premium notes Of mutual companies, an
Increase OF sl1,016, ,893 as compared with
1900 The liabilities OF these companies,
excepting scrip and capital. were Sles,-
OOe, ,9l5, an increase Of 1898, ,e29 over the
return of the preceding year. The re-
ceipts were sls5 ,517, ,4s2 and the disburse-
ments were $40, ,72s. ITO, an increase as
compared with 1900 Of s1s,14e,S8s in re-
ceipts and OF ss4ll,542 In disbursements.
The whole number Of companies reporting
in 1901 was 1855, being sixteen less than
in 1000