The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-01
In the Local Insurance World;
NezvS and Notes of Interest

H. F. Kramer has resigned as assistant
special agent of the indianapolis Fire In
surance Company.
Mr.. T. c. Day, of T. c. Day & Co., left
this week for trip to Europe. He is ac-
companied by Mrs. Day and their daughter.
+ +
The German Fire of Indiana has issued
invitations to banquet to be given April
Is in celebration of the company's semi
centennial
w. ]. Warner and number of his staff
have resigned their positions with the
Aetna Life Insurance Company to repre-
sent the Mutual Life Insurance Company
of New York.
Companies writing tornado insurance re-
port that the season has opened up in
great shape with them. They have already
had a large number of losses to pay and
are feeling the effect of the storms as a
stimulant to new business.
John H. Nelson, formerly special agent
OF the Insurance Company of Illinois for
Wisconsin, has been appointed state agent
for the Indianapolis Fire Insurance Com
pany for Wisconsin and Minnesota. He
will have his headquarters in Madison.
The Louisville Association of Life Under
writer's is reported as staying out of the
National Association because of fear that
they could not select delegates to the an
nual meeting of the national body amicably.
1t is a good sign when Kentucky gentle
men are willing to admit their weakness
and to avoid temptation as far as pos
sibe.
The reinsurance of the Model Life In
surance Company of this city. which took
place this week, the Federal Life of Chi
cago taking over the business, did not
come as a surprise to local insurance men.
1t has been understood for some time that
the management of the company was open
to a change, and various rumors as to
its plans became current The Model was
a small company operating on the assess
ment plan and having about $,000,000 In
surance in force.
The Indiana Association of Life Under
writer's held a meeting last Monday and
discussed plans for the entertainment of
the national association, which is 10 meet
here next fall. President Price. of the
Indiana association, reports that he finds
indianapolis has exceptionally satisfactory
facilities for furnishing hotel accommo-
dations and assemblage hall conveniences.
He and Mr. Ritcnle, INDIANA representa-
tive on the national executive committee.
are preparing to go TO Philadelphia soon 10
meet the executive committee.
Again the question is being asked: Why
is there no such thing flood insurance.
Every year there are heavy losses from
high water and those who would protect
themselves wonder why companies are not
organized TO furnish indemnity for losses
of this nature. A company was incorpor-
ated in Connecticut last year which, among
other privileges, may write flood insurance.
The incorporators probably do not intend
to begin writing this class of business for
some time to come, at least to any great
extent. but they doubtless recognized that
there was a need in this direction which
prepared 10 take advantage OF il when the
time comes. There are many difficulties TO
be overcome by those who would become
pioneers i'm flood insurance. IL would prob
ably be no difficult matter 10 place policies
on property in such places as are subject
to overfiows almost certainly every few
wears but a company which had to depend
ON a class of business that would be so reg
Mar in the loss habit would soon be forced
ont of existence. IL would be literally and
figuratively swamped. To succeed a flood
Insurance company would have TO carry
large volume of business on which the loss
hazard while existing, would be reasonably
remote To educate that class of risks 10
their need of such protection would be diff
fcult Take Indianapolis for example.
MANY property owners whose buildings and
belongings have suffered large losses from
high water during the past week, ten days
ago would have ridicuied any one who
might have approached them to sell them