New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1903-12-29
| INSURANCE RATES LESS.
Neso-Y York Fire Exchange ApproUes
Discounts.

The New-York Fire Insurance Exchange. COM
posed fire insurance underwriters. yesterday ap-
proved the report OF its special committee on
equalization Of rates. which recommended that per-
oentage discounts in the rates of risks belonging 70
the following classes and in the amounts stated
be approved. such discounts to apply to contracts
taking effect after November l:
On risks rated under mercantile schedule. except
listed storage stores. private warehouses and fire.
proof office occupancy (these three classes being
excepted because each already enjoys especial con-
sideratOn In the treatment given IT'D. allow a dis
count OF 10 per cent from rates OF buildings and
contents; on boarding and livery stables and pri-
waite business stables, discount OF 10 per cent: on
breweries. discount OF 20 per cent; on churches.
discount Of 10 per cent; on theatres. discount Of
20 per cent
These discounts are to be considered reduc-
tions OF rate without change OF hazard. and can
cellations for the purpose or with the effect of
giving the assured persons the benefit Of the re-
duced rates shall not be made at other than short
rates.
Discounts are TO be allowed from the rates given
on cards and allowances for sole occupancy. auto
maGo fire alarm. 100 per cent average clause and
for automatic sprinklers, II permissible. are then
to be made in the order named Where sprfnklered
risks equipped IN accordance with the highest
recognized standard of protection. the report con-
tinues, a greater allowances than at present might
properly be made. and the appointment OF a COM
mittee OF five is recommended. to confer with tina
survey committee OF the New-York Board OF Fire
vision Of the boards requirements for sprinkler
equipment. These rate reductions apply TO all tbs
bOrOughs composing the present city or New-York,
and have been recommended after an investigation
by the committee covering the experience for the
last ten years Of leading companies in writing
given classes of risks in this territory These
suits" the committees report says, show that the
ratio Of losses to premiums has been decreasing for
three years past.
Fire insurance rates, which were made partou-
arly high in 1902 because of the tnadequacy Of the
water supply and pressure. a condition now being
remedied-
Fire Commissioner Sturgis said yesterday with
reference to the decision:
This is q practical denial Of the statements
made recently by the friends of Chief Croker that
insurance rates were being raised have known
since August that a committee OF the Board OF
Underwriters was considering the question OF
reduction Of rates, and this is the result Of IL.
THE remarkable results which the uniformed
men have produced in preventing fire losses in the
last two years due in my Judgment, TO the i'm
proved equipment which they now have and the
increased zeal and interest and intense desire
the part of the to make record that would
show their recognition and appreciation Of the fair
members Of the department in the various grades,
from hremen and engineers up to chiefs, and men
retired from service but who keep up their interest
in the department come in almost daily and tell
me there has never been so much harmony for
many years past and little friction between
men and officers as there Is to-day"