The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1904-10-18
AN INTERESTING BIT OF HISTORY
"Ihe Original -Four.

About ten years ago in Greensboro,
n. c., were made the small beginnings
of a business which has grown to pc
one of the largest in the State and
which has stamped the impress of its
influence indelibly upon the history of
fire insurance in North Carolina.
When the first of the Greensboro Fire
Insurance Companies was organized
the Managers adopted plans and poll
cies differing from those of any other
companies operating in the State, and
with such success that they derived q
greater profit from the business than
the older companies and at the same
time were able to reduce the cost of
insurance to the public twenty per
cent. This was the occasion of a series
of pitched battles, or rather combined
attacks by the other companies upon
the Greensboro companies covering a
period of eight years.
1t is an interesting fact that every
time the combination of opposing COM
panies opened up hostlities anew, as
happened on an average every two
years, there arose from the wreck
and carnage" a new Greensboro Fire
Insurance Company, until there are
now four of these companies, all un-
der the same management, with a
combined surplus to policy-holders of
over Il half million dollars, and Il
premium income of over $3.50, 900. 90
per annum. They are the Southern
Stock Mutual Insurance Company of
which b. d. Heath is president: the
Underwriters of Greensboro. of which
j. Van Lindley is president; the Home
insurance Company, of Greensboro, of
which r. L. Holt is president: and the
Southern Underwriters. of which u. A.
TompkinS is president. These cOnSti-
tute THE Original Four" and A. w.
McAlliSter is secretary and manager of
the four companies.
1t is due entirely to the position
taken by these companies that rates
are twenty-five per cent. lower in
North Carolina than in any other
Southern State. and TO their resistance
against increased rates which has re-
suited in annual saving to the people
of the State of over $3.50, 100000. they
were absolutely alone. without the CO.
operation of any other company, do
nestle or foreign.
They have Instituted a number of re-
forms in underwriting, liberal in their
character to the insured, which have
since been adopted by the South East
ern Tariff Association. The Green's
boro companies were the first TO re-
coSnize that the hazard of a building
III process of construction is no greater
than it is after it is occupied, and
eliminated the extra charge for per-
mission 10 complete building in pro-
cess Of construction.
They were also first to recognize that
there is no greater hazard in the tenn
purary vacancy of a dwelling during
The absence Of the owner occupying it
tnan there is when occupied, and to
eliminate the extra charge therefor.
The Soulful Eastern Tariff Association
adopted these same regulations several
months after they were promulgated
by the Greensboro companies.
WITH Sucn q gOon record as this
property owners vii, do no more than
simple justice, and will promote their
own interests at that, when they see
To it that their property is insured in
these companies, The Original Four"
nowhere else.-The Greensboro Telc-
gram.