The Lake County times. [volume] (Hammond, Ind.) 1906-1933, 1906-06-28
Insurance Companies Apply
the Squeeze to Future
Industrial Risks
TO PAY FRISCO LOSSES
Lake County Policy Holders Think
they are Being Asked to Share
Share Earthquake Burden


Insurance rates in Indiana are 60
ing up. Present policy holders will
not be affected by the change but the
new applicants will hear of a decided
raise in certain lines. E. e. Beck
the local insurance inspector received
a letter from e. NJ. Sellers secretary
Of the Indiana Association Of Tn
derwriters this morning with in
structions to notify all agents of the
advance.
The Indiana Association of Under
writers gives as its reason for the adj
vance the following. owing to the
fact that certain classes of property
have not paid the companies for the
last FIVE years, and in order to equal
lze rates and make classes heretofore
Improbable, do their share, per-
centage advance has been decided
upon"
Other Reasons Seen
There seems however to be a
stronger reason in back of this de-
cided raise. The shock of the San
Francisco Earthquake is still felt in
insurance companies and this adj
vance will probably be the only
means to help many of the smaller
companies out of the hole.
The Association has chosen for it's
subjects large corporations and COM
panies which can stand the addition
al percentage. The advance that
strikes Hammond hardest is the one
on stocks of merchandise in brick
and frame buildings. An advance
of 20 per cent has been made
The Insurance companies of Chi
cago are making the raise under a
different cover. Fire chief Campion
was let out by Mayor Dunno and on
this ground the companies found suf-
ficient reason to advance their rates
The percentage advance for In
diana may be arranged again during
this year.
Letter to Inspector.
The letter to inspectors is as fol-
lows:
Indianapolis, June 81, 1906
To Inspectors
Owing to the fact that certain
classes of property have not paid the
companies for the last five years and
in order to equalize rates and make
classes heretofore improbable do
their share, a percentage advance
has been decided upon as follov
/. On Iron and Metal VIZ
80 p. c.-to hold good until .ch
risks are rerated under schedule now
in course of revision.
2. Colleges and School Buildings
in protected towns and cities unless
same have been rated under the May
1904 special sehedule-25 p. c.-tC
take effect at once and hold good un-
til same are rerated under the sche-
dule referred TO.
3. Boot and Shoe Factories. un,
sprinkled, if not rated under tn,
January 1906 schedule-40 p. e.-tC
take effect at once and hold good an
til SO rated
A. Paper Mills to be advanced
SO p. c.
5. Churches in protected town,
and cities unless rated under tn,
School House Shedule, should be ad
vanced 20 p. c,
6. Terminal Elevators and Con
tents-20 p c.-to hold good unit
same are rerated under schedule nov
In course of reviation.
Z. FIGURING Mills to be advanced
30 p. c.
s. Furniture. Chair. Coffin, Pia
40 and Billiard Table Factories, un
prinkled. to be advanced Is p. c
8. Summer Hotels to be advanced
10 p. c.
10. Saw Mills to be advanced Il
C. to hold good until rated unde
shedule now in course of revision.
IL. Stocks of merchandise il
rick and frame buildings to be ad