The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1905-01-25
fire INSURANCE aATEs..
COMPTROLLER JONES INvEsTI.
CATION OF S. e. TARIFF.
He Has EeeE Unable to Discover
Whether Rates Have Been Gen
orally Raised or Not.
BY w. H. McCaw.


legislature allowing the association 90
re-enter the state has resulted in the
rates being increased or not.
Grinding uniform reply to the
circular of inquiry he sent to agents of
the association .4that rates had been
reduced from 10 to 25 per cent. he
directed the circular to number Of
citizens in different sections of the
state
After quoting a number of letters
from both agents and: citizens the re-.
port concludes:
..The above extracts from among the
letters received are very confusing.
and it is hard to say whether there
has been an actual reduction or not
the Southeastern Tariff
assciation viii receive in the aggre-
gate an increase or decrease upon the
premiums received for the same
amount Of property insured under the
new rates or not.
AS the matter has caused much
comment in every section Of the state,
further extracts from Mr., Jones re-
port are given as follows:
..Under section of the act it is pro-
yided, That insurance companies
may be members Of an association,
the purpose and object of which is to
secure proper inspection of risks,
the classification Of risks, the mainte-
nance OF uniform and reasonable rates
and the prevention of discrimination
in charges between parties dealing
with such insurance companies in this
state. Under this provision the South
eastern Tariff Association re-enters
this state. This association was organ
ixed near Gainesville, Ga, on October
10, 1882, its operations coverine the
states OF North Carolina, South
Carolina, Georgia and Alabama and its
object was stated to be to organize
and maintain local boards to establish
and enforce adequate raise and uni-
form commissions. Subsequentlyait ex-
tended its jurisdiction over Virginia,
Florida, Mississippi and Louisiana, but
South Carolina, Virginia, Mississippi
and Louisiana passed anti-compact
Jaws and the companies acted inde-
pendentay: Of each sother in making
rates in these states. Virginia repealed
its anti-compact law in 1902. The as
sociation now has jurisdiction over the
states Of Virginia, North Carolina.
Georgia, Alabama and Florida and
South Carolina.
.'The annual statements Of the
members Of the association OF business
done IN this state in 1903 shows risks
written s7s,71o,5os. gross premiums
received ssss,17s. Estimating the ex-
penses at s2 1-3 per cent Of the
premiums received. shows expenses OF
ss31,057.. This added to losses paid OF
s472,977 shows an apparent net profit
to the members Of the association on
Sout, Carolina business Of $1S9s138.
The average rate per 500 was 1.246.
This association entered the state and
commenced re-rating about April 1,
1903. Manys OF the 4citiess and towns
have not been re-rated, or the rates
have not been promulgated, However,
complaint was made to this Office and
the Commercial club Of Rock Hill that
the association had increased the
rate
After quoting a number Of letters
from bothagents and citizens. the re-
port continues and concludes:
~only one direct complaint has been
received appealing to the comptroller
general FOR relief, that from the sum
ter Warehouse company, which al
legged a raise from 81 to $4.25. This
matter was taken up by me with Mr
Middleton OF the association and am
informed by the Sumter company that
they would withdraw their complaint
as the matter had been satisfactorily
adjusted. s...>...
"As stated before the association
has not completed their re-rating In
the state, and in ma y places where
it has been re-rated the re-rates have
not been promulgated. notably. Barn
well. Union, Chester, Lancaster. Nine
ty-Six and several other points. In
these circumstances 1t would not be
becoming in me to criticise the action
Of your body in opening the door fol
associations to fix the rates in this
state until fair trial Is given and the
facts and data necessary to arrive al
correct conclusion as to whether II
Is advantageous for the people of this