The Barre daily times. (Barre, Vt.) 1897-1959, 1909-08-13
INSURANCE
In VERMONT
Commissioners Make Report
for 1908
FIRE LOSSES WERE LARGE
More Than s6o,oooooo Life Insurance
Carried in Vermont at End Of
isos--A Considerable Increase
over 1907.

Inc ahnual report OF the insurance
commissioners Of the state, Edward IT.
Deayitt and Guy W. Bailey, issued to-
day, has the following summary Of fire
losses in Vermont in 1908;
The losses incurred by fire insurance
companies IN this state in 1905, as re-
ported by the companies in their annual
statements, amounted to s971 ,975.70 as
against S645,is5.7s incurred in the pre-.
eeding year. The destruction Of the
grain elevator at Richford used by the
Quaker Oats company and involving q
loss Of upwards Of 100000, and the fire
wiping ont the business section Of the
village 81 Richmond, involving loss Of
some $4,000, help to explain the diff.
ference between the figures Of these two
years. The reports Of IRE losses trans
mitted % this department in accordance
with Section 4.7T9 Of the Public Stat-
utes BY the insurance companies at the
time the FIRE losses are adjusted indi-
cate, as heretofore, a much larger fire
loss than the figures reported bv the
companies in their annual statements
after deducting reinsurance. These
figures for the past year amounted to
Sl,1ts,5as. The report Of losses paid
filed BY the companies IN their annual
statement shows only $T64 ,56292 as
paid during the year 1905. "A part of
the difference can be explained by the
fact that the losses in connection with
some large fires occurring Id the last
months Of the year were not adjusted
and paid until the year 1909 40 that,
while the fgures are included in the fire
statistics published in taccordance with
provisions 81 4,7T9 Of the Public Stat
utes, the payments win not be reported
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 that companies
are not always particular il 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 lar-
ger Gre loss than has really been exper-
fenced, and the attention Of the com
panies is here called to the situation 20
that 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. Albans are distinct munieipali-
ties and do not include the towns of
Barre. Rutland and ST. Alhans, respec
lively. With these suggestions it IS
hoped that these statistics may prove
more reliable In this connection the
commissioners wish TO call attention 70
the causes and origin Of fires, AZ shown
by these reports. During the last year,
out 0f 1877 fires, 220 were caused hy
ehimneys and defective dues. The year
before, 24a fires out Of 1,2ss originated
In the same way. III zoos the amount
of fire loss from this source was s120.-
aa5, which shows improvement over the
Si9a,2s2 ii the figures Of 1907 These
figures, however, suggest chance for
Improvement along the lines Of inspec-
tion by companies and greater care in
the maintenance Of buildings BY the
owners themselves. Owners of property
cannot expect low insurance rates If they
maintain their property in a hazardous
condition, and property owners who dol
maintain buildings In safe condition
have 4 right to insist that a more
thorough inspection and higher stand
ard Of maintenance be required by the
insurance companies themselves.
Life Insurance.
The amount 81 business written by
the life insurance companies in this
state during the year 1908 exceeded the
amount Of the preceding year and at the
end of the year there was SEQ. 0.7S6,G45,-
OF Of insurance carried BY the people Of
this state in the legal reserve life inslm
ance companies, substantial increase
over the figures Of the preceding year
The attention Of the commissioners wa
called during the past wear to one or two
eases Of alleged rebating, and in one
case 4 hearing was commenced before
the insurance commissioners As the
hearing progressed Ii developed that the
were without power to
compel testimony from the person com
planned against. OF to revoke bis license
in case Of refusal to state the facts,
or in case IL should Be found that 4 vio-
lation Of the law had been incurred This
matter was reported TO the legislature
which has taken care of the shortage in
the law by appropriate legislation, 50
that the commissioners are now in a Sit
nation to give such matters efficient at
tentian. Tt Il not believed that viola
tions Of the law are common, but they
should not occur al all and a statement
here made may call the matter more
forcihly to the attention of agents than
IAN be done in any other way.
SFASH0RF ISLAND SnLn-