The Vermont watchman. [volume] (Montpelier, Vt.) 1883-1911, 1909-08-12
INSURANCE REPORT
Fire Losses Amounted to So71 ,o75,7o
in zoos

in 1908
State Insurance commissioners L. II.
Deavitt and G.. w. Bailey issued the
annual report on Friday. The report
contains the following summary of fire
losses in 1908;
The losse incurred by fire insurance
companies in this state in 1908, amounted
to $971, $3.50 as as against S645, 1878
incurred the preceding year. The de-
struction of the grain elevator at Richford
and involving a loss of upwards of $4,000
and the fire wiping out the business section
of Richmond, involving a loss of some
SIZE, 1000, help to explain the difference
between the figures of these two years.
%tofore, a much larger fire loss than the
figures reported by the companies in their
annual statements after deducting rein
%surance. These figures for the past year
amounted to 81, 11S,545 The report of
losses paid filed by the companies in their
annual statement shows only 1874, 5S2.92
as paid during the year 1908. A part Of
the difference can be explained by the
fact that the losses in connection with
some large fires occurring in the last
months of the year were not adjusted
and paid until the year 1909 so that,
while the figures are included in the fire
statistics, the payments will not be report
ed by the companies until the annual state
ments for the year 1909 are furnished.
The attention of the commissioners has
been directed to the fact hat companies
are not always particular in reporting
the fire losses adjusted and sometimes
instead of stating the place where the
fire occurred, the residence of the owner
of the property is stated. This has re-
suited in some localities showing a larger
fire loss than has really been exper-
fenced, more care may be exercised in the
future in reporting these statistics, and
attention is particularly called to the
fact that the cities of Barre, Rutland,
and st. Adams are distinct municipalities
and do not include the towns of Barre
Rutland and st. Adams, respectively.
The commissioners call attention to the
causes and origin of fires, as shown by
these reports. During the last year
out of 1877 fires, 200 were caused by
chimneys and defective 1ues. The year
before, 249 fires out of 1888 originated
in the same way. In 1908 the amount
of fire loss from this source was S120, 925,
which shows improvement over the
S130,2S2 in the figures of 1907. These
figures, suggest a chance for improvement
along the lines of inspection by companies
and greater care in the maintenance of
buildings. Owners of property cannot
expect low insurance rates if they main
tain their property in a hazardous con
dition and property owners who do main
tain buildings in a safe condition
have a right to insist that a more
thorough inspection and a higher stand
ard of maintenance be required by the
insurance companies themselves.
The amount of business written by the
iiS hod NOiiIdhlNo bbilhS NN gNdl
1908 exceeded the amount OF the pre-
ceding year and at the end of the year
there was $50, Use, GAS, 02 of insurance
carried by the people of this state j
legal reserve life insurance companies, a
substantial increase over the figures of the
preceding year. The attention of the
commissioners was called during the past
year to one or two cases of alleged rebating,
and in one case a hearing was commenced
the insurance commissioners. As
the hearing progressed it developed
the commissioners were without
power to compel testimony from
the person complained against, or to
his license in case of a refusal to
state the facts. This matter was reported
to the Legislature which has taken care OF
The shortage in the law by appropriate
legislation.