The Montgomery advertiser., 1903-03-15
LOST MONEY
 IN ALABAMA Insurance Companies Suf- fered in One Year. REPORT OF COMMISSIONER Big Fires in Birmingham
 Were Responsible. State Insurance Department in Annual Statement Makes Inter
 esting Disclosures-Total
 Amount of Risks Writ
 ten During Year.

The advice sheets of the annual report or Hon. N. R. McDavid. Deputy Insu- rance Commissioner of Alabama show that the fire insurance companies doing business in this State lost money during the past year.
 The disastrous fires in Birmingham in the past twelve months are given as the causes of the loss to the companies
 The advance sheets of the report of the Insurance Commissioner show that the loss to the insurance companies doing business in Alabama in the past year reached the large total of S1, 251 3s9. This was a large increase over the previous year in which the loss by fire was sS40- sT7. The figures in the report show that in one year the fire loss in Alabama in- creC-n' s210.s62.
 Con-. Y McDavid agrees with the Insurance 4-s.. that the unusually costly the heavy loss.
 The report of Mir. McDavid covers the insurance year from March l. 1902. to March l. 1903 The advance sheets are gotten out for the benefit of the fire in surance companies doing business in Ala bama. Copies of them will be sent to all agents in the State.
 In the year covered by the report the 6 cents increase in rates decided upon by the Southeastern Tariff Association went into effect The report of MT. McDavid shows that while in theory the increase might have been 25 cents in reality 1t was
 
 the report. was s1.5s. while it was $17s in 1903.
 The total amount of risks written in Alabama for the year just closed was $lo9.sB,7ss. while the amount written for the previous year was $l0S 476, ,370.
 One of the significant features of the report is the figures showing the large increase in the receipts of the depart ment. In the year just closed, the de- partment paid into the State treasury $66, S31. This is an increase of over S90 GOO over 1899. The department expended last year g, ,913.
 The year was unprecedented in its heavy losses. It is said that never before have the insurance companies lost money in Alabama. The. loss of the fire insurance companies for the year was $1, ,2S ,3S9, out of a total of $1,959,S96 received in pre- miums,
 The percentage of the loss from the premiums was 63.6. Insurance men unite in saying that when the loss is above 60 per cent of the amount of the premiums received, the companies lose money.
 Commissioner McDavld says that there is justice in this claim of the insurance men.
 The following insurance companies have withdrawn from Alabama during the year: Firemen's of Baltimore, Imperial of London. Mutual Life of Louisville (re> insured), Sun Life of Louisville (rein- sured), United States Life of New York, United States Health and Accident of Saginaw.
 The following companies have been ad- mitted to Ale bama during the year: Fire: American Central Insurance Company of St. Louis, Indemnity Fire Insurance Com pany of New York Providence Washing ton Insurance Company, Providence R. l. l Life: Illinois Life Insurance Company, | Chicago; National Life Insurance Com pany, Montpelier, Vt: Casualty, Aetna | lndemni Company. Hartford.