The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1904-07-26
Mr.. EIdridge, Insurance Gar,
Fixing Things in Topeka.
Twenty Per Cent Increase to Be
Abolished.
INSPECTION is TRIED.
Each Building to Have Rating
of Its Own.
Some May Have to Pay More
Than Now.

Topeka is to have a complete revis-
ion of fire insurance rates. The 20 pei
cent horizontal increase announced
some time ago by the Eldridge Rating
bureau is to be abolished, and a new
rate book. now in preparation by the
Eldridge company will be issued within
about 80 days.
In the new rate book, each building
in the business part of the city, and
other large buildings. will be given a
special rating, determined by the
standard insurance rating code. Under
this code, a certain basis rate is named,
and then extras charged for every par
ticular in which the building fails to
meet the insurance standards of fire
protection. Credits are also allowed for
those particulars in which the building
is constructed strictly according to fire
insurance rules. For instance, a build
ing would get credits for standard cleo
trio wiring, standard fire doors and
shutters, standard thickness and height
of fire walls. 1t would be given extra
charge in case a bakery, drug store or
some extra hazardous business was To-
Gated in the building; in case the base
ment was used as a dumping place for
refuse boxes, and infiammables, or in
case adjoining property was an especi-
ally hazardous risk.
The effect of this new rate book will
be, in some cases, to actually increase
the rates on some bad risks, it is said.
High buildings will undoubtedly get the
worst of it. In this way the insurance
rating bureau will take a backhand
slap at the water company, for alleged
insufficient fire protection. Buildings
which fail to comply with many of the
standard tests to be applied by the in
surance inspectors will perhaps find the
new rating more of a hardship than the
~ per cent horizontal increase. When
the horizontal increase was made, the
good risk was helping to pay the premi-
umS of the bad, according to the view
OF the insurance men, Under the new
plan every risk will stand on its own
merits.
The insurance men say that this will
be a much smoother way of adjust
stick to the 20 per cent on all risks.
They think it will decrease the amount
of kicking if the advance is graduated
a little to fit different conditions. The
anvil chorus on the insurance compa-
MES will then not be quite so unani-
nous, perhaps.
OF course Mr.. Eldridge is not talking
about his new rate book, or what il
local insurance agents much about his
plans, but they know what is going on,
because Eldridge'S agents are busy on
an inspection of all the business part
Ol town. ne new rate DOCK VIII not
be issued until the inspection is COM
plete, and every business building in
the city is given its individual rating.
1t is the general opinion that the actual
Topeka will be to cut off part of the 20
per cent advance in premium. but that
ra ties will be left higher than they were
before the increase went into effect. 1t
will be sort of compromise, in which |
they have ever paid before, and others |
will get off with material reduction or
perhaps entire cancellation of the 20 per
cent advance.
The horizontal 20 per cent increase was
oa9 Take It for In f6e
Of some of these suburban stores, where |
they never have had any IRE protection |
10 not extend. 1t is foolish to tax a 20
per cent increase to such places, because |
they are not one bit worse off than they !
ever We're. Then again, there are some |
business houses down town, occupying
.an preferred stocks'-that is stock such
as groceries, which are not in danger OF
aking fire 1t was hardly right to make
when the big dry goods store in regu-
ar fire trap location was charged only
he same rate Of increase.
1T would have been better in the first
place to have issued a new rate book,
ts' but they Went at it the other way.
md 1t stirred up a lot OF opposition which
he agents have had to fight"
The insurance agents say that the
combine" insurance trust has heid
ogether well on the ~ per cent increase
proposition and that every insurance
represented in the city has adj
lered to the combine rates.
Even the little mutual fire insurance
company down here" said an agent yes
erday, has come to the Eldridge rates.
That simply shows that the rates were
air. and that they were demanded by the
conditions which exist.
Although the increase of 20 per cent or
Tered by the Eldridge rating bureau was
imposed to apply to all buildings, resi-
Iences, well store buildings, it
RI ha hPa n
Increase on dwellings. The local insur-
nee men have never lacked up the
Lwelling rates, and they remain they
we're three or four years ago, S. 90 a thou
and for three years, and S1200 a thou
and for five years. The rates on bust
less houses down town have been adj
-anced to about L3 or IA per cent. which
means rate of S1.30 or LAO hundred
,er year. This rate, it is claimed by in
urance men, is very moderate, in view
# the fact that at Kansas City the rate
5 per cent or g per hundred.