The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1904-09-25
NEW INSURANCE RATES.

As has been anticipated for some
time the city of Cairo is about to be
subjected to change in fire insurance
rates The matter Is covered at length
in another column in this mornings is
sue together with a letter received
yesterday by the secretary of the 10.
cal board OF fire underwriters that has
bearing on the subject 1t has not
been possible to state whether the
change in rates implies an increase or
Ia decrease in the premiums. but in
view OF the great fire waste in the
cradle extent to which Cairo has con
tributed thereto ii is reasonable to
suppose that no great reduction in ex-
listing tariffs will be made.
AS a matter OF fact the subject OF
the new tariff, or, as it is known the
Dean Schedules, is to equalize rates, to
place the charge where ii belongs and
at the same time allow a fair profit on
underwriting based on the experience
of the last decade or a certain term
of years during which CONGREGATIONS,
their causes and effects have been re.
corded and classified Fire underwrit.
ing is a business transacted upon av-
erages and the only guide to equitable
rates Is the past experience Of the va
rious companies engaged In the busi-
ness. Where 1t is found that results
Justify reduce. rates, as in the case
Of the lumber business in this city, tine
rates should and doubtless will be low
cred and where certain classes have
been protected only at loss it is rea-
sonable to suppose that the rates will
be commensurately higher.
According to the local insurance
men an effort was made more than a
improvements which would les
sen the fire loss, and, it
was believed. have its effect on
rates. In June of last year the city
council was petitioned at length by
the local agents protesting against the
contemplated removal Of the fire chief
by abolishing that office as was subse
quently done The state board OF fire
underwriters in a letter to tire local
board refers to this letter and does not
hesitate TO say that the recommends
tions of the local insurance men should
have been adopted In the language 81
the letter from the state board secre-
tary the Cairo agents appeal was
pigeon holed and it is desired to resur-
rect the petition and reopen the sub
ject. II would seem that in view of ex-
listing conditions and the approach OF
an entire revision of rates that this
matter should receive the attention
of the city council and steps taken 60
place the city in the best possible coz
ditlon for a re-rating.
The city of Cairo, according to the
returns made to the comptroller foi
the year ending July list. last. pays on
N fire insurance premiums through
Is citizens. over 100000 annually. Va
rious shortcomings and defects in the
features that go TO lessen or increase
the fire hazard may play an important
part in this expense. An increase OF
reduction 90 brt ten per cent. in the
average rate would mean the outlay or
saving of no less than $4,000, not
once but annually 10 the owners OF
property. real ana personal. in the city
Il is entirely probable that the differ
nee between standard and inferior
equipment will mean even more and
he interests Of property owners can
not be better served than by a full in
vestigation Of conditions, as insurance
rates are dependent upon them. in ad-
vance of the PRONUNCIATION of the new
rates.
The Bulletin has not the authority
and il is not its province TO sound a
warning in this regard but it believe
that with the knowledge before it. it,
luty lies in the direction Of calling the
attention of It's readers and the public
generally 10 the facts as they are be
Iieved 10 exist by the insurance com
panies.