The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1911-01-09
DON'T WANT TO PAY IT.
Insurance Men Object to Returning
School Insurance Rebate.

s,,,', rsn AT all surprising that the in
Surahce companies which are doin.r
BUSINESS with the school board are nov
oopJectlhg because the board demands
ne payment of a IS per cent rebate.
winch the members claim is due from
the GATE of the policies.
Inc demand made by the board FOL-
lows: ooiu 10
we lind the rate the same with .,r
without the 20 per cent clause attach
so. we therefore are now paying AMI
nave Tor years past paid the regular
established rate without rebate. Greatly
10 the profit of the companies. There
lore, the board demands from each AMI
every company now carrying insurance
on Its various properties, a refund of
10 per cent of premiums paid on policies
now in force. Feeling that this action
is clearly within our equitable rights.
we wish to inform you that our rela-
lions with any company intrenching
itself behind technicalities of either
law or conditions, will cease with the
expiration of policies now in force
Z. u. BIakely, president of the local
association of under writer's. and repre-
sentative of the Hartford Insurance
company, and c. F. Hardy, an insur-
ance adjuster, and former chairman of
the insurance committee of the school
board, met with the members of the in
surance committee of the board late
Saturday and protested against the
payment of the rebate from the date of
the policies, although they said there
would be no trouble in regard to the
collection of the rebate dating from
the time that the above demand was
received. o
However, the members of the COM
mittee present, DR.. r. S. Magee, Presi-
dent S. A. SWendson, James Cuthbert
and Judge Carver, who was called in to
give legal advice, believing that thei''
demand is just. showed no signs of
giving in to the companies.
While Mr.. Hardy was the chairmaa
of the insurance committee of the
board the members say he insisted
that it was necessary for the board to
carry a high amount of insurance on
the buildings before the board would be
in a position to receive Is per cent re-
bate.
Now he claims that the companies
are willing to grant the board a Is per
cent reduction ON premiums paid ami
attach the 20 per cent clause as the
board now demands. He states that no
question will ever be raised excepting
in case of fire.
The 20 cent clause is as follows:
I'm the acceptance of insurance risk
under policy No. 49,, of the IN
s11rance company, and in consideration
of the premium received thereon, we
hereby agree that S.. is 40 per cent
of a, fair and reasonable valuation o.
the property covered in part by the
said policy. and we hereby waive, i'll
case. of loss under said policy, any and
all right to question the matter of over
or under valuation OF said premises;
The board asks that this be attached
to the policies dating back to the time
of writing Mr.. Hardy says this VIII
not be done, but that the companies
are willing to attach it for the period
covering the unexpired portion Of the
policies.
It is interesting to note that the total
amount of insurance carried by the
board is 1885,, 300 and that OF TINS
amount one company, the Hartford
company. wrote $53,600