Middlebury register. (Middlebury, Vt.) 1886-1937, 1909-08-20
Insurance Comm issioners' Re-
port.

+. h. Deavitt, state treasurer, and
Guy w. Bailey, secretary of state,
have just issued their annual report as
insurance commissioners of Vermont
for 1908. The report contains about
l, 100 pages. The total loss by fire
insurance companies in Vermont in
1908 is shown by this report to be
1911, $3.50 against $645, 1875. 73 in 1907.
The Richford elevator fire was the
largest single loss and was upwards of
$3.50, 600. The second big loss was
S125,00 at Richmond. There was a
total of 1877 fires and the total loss
from defective chimneys was $120, 1926.
The reports of fire loss transmitted
to this department in accordance with
section 4, 779 of the Public Statutes by
the insurance companies at the time the
fire losses are adjusted Indicate as
heretofore, much larger fire loss than
the figures reported by the companies
in their annual statements after deduct
ing reinsurance. These figures for the
past year amount to 81, lis, 545. The re-
port of losses paid filed by the com
panies in their annual statement shows
only 1854, 5S2. 80 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
We're not adjusted and paid until the
year 1909 so that, while the figures are
included in the fire statistics published
in accordance with provisions of 4,779
of the Public Statutes, the payments
will not be reported by the companies
until the annual statements for the year
1909 are furnished
The attention of the commissioners
has been directed to the fact that com
panies are not always particular in re-
porting 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 resulted in some localities
showing a larger fire loss than has
really been experienced, and the at
| tention of the companies is here called
to the situation so that more care may
be exercised in the future in reporting
these statistics. and attention is partic-
ularly called to the fact that the cities
of Barre, Rutland and st. Adams are
distinct municipalities and do not in
clude the towns of Barre Rutland and
st. Adams, respectively. With these
suggestions it is hoped that these Stats
tics may prove more reliable.
In this connection the commissioners
wish to call attention to the causes and
origin of fires, as shown by these re-
ports. During the last year before, 24S
fires out of | ,2SS originated in the same
way. In 1908 the amount of fire loss
from this source was Sl20,9 25, which
shows improvement over the $l30, 2S2 ir
the figures of 1907.
These figures, however, suggest 3
chance for improvement along the lines
of inspection 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 il
a hazardous condition, and property
owners who do maintain buildings il
safe condition have right to insist tha
a more thorough inspection and higher
standard of maintenance be required by
the insurance companies themselves.
The amount of business written by
life insurance companies in 1908 eX
ceeded any previous year and December
81, 1908, the people of Vermont carried
$50, 1876, 6450
The commissioners criticize the Yer
mont Accident Co. of Rutland in Ger
tain transactions which leave an impair
: ment of its capital of about 81, 600
, They state in their report that they in
tend to proceed in accordance with tn,
law and present the situation to tn,
court of chancery if the Vermont Acct
dent Co. does not at once make good it
loss of capital.
During 1905 the fees received from
} foreign insurance companies was Sl6l.
4l6. so and the taxes to June 30, 1905
under the corporation tax law amounte,
to 81, ia, 342 "a.