New-York tribune., 1912-04-18
ACCIDENT LOSSES LARGE
Companies Place Figures at
Close to 100000.
FEW STRAIGHT LIFE RISKS
Double Liability Clause" Hits
Others Hard, but Amount
Nav Be Reduced.

The item Of accident insurance growing
out Of the loss OF the Titanic will be far
in excess OF that OF the life insurance
claims All OF the accident insurance COM
panies had their inspectors busy yesterday
estimating the aggregate losses they would
have 10 pay in case most Of the rich men
on board the vessel were actually lost
Judging from the estimates OF the various
companies, the figures will run Up close 10
| 50. 600 600. The representatives Of one OF
the larger companies said they had 1000
600 Of accident risks among the men pas
sengers. The companies were hopeful that
these figures would be substantially reduced
when the complete list Of survivors was
known.
The double liability clause" in the ac-
cident policies is responsible for the ur-
usual magnitude Of the claims. This clause
requires the companies TO pay double death
benefits IN cases where the insured loses
his life while travelling on public con-
veynnce propelled by steam or electricity
IN addition 10 the claims for death bene-
fits. the accident companies may have TO
pay over a large sum covering the illness
Of those whose health suffered from the
strain and exposure which they encoun-
tered Most Of the accident policies con-
tain provision for health insurance which
obligates the company 10 pay 10 those whose
health has been injured by the accident a
weekly indemnity for periods varying from
twenty-six 20 Io4 weeks
Charles NJ Hays, president Of the Grand
Trunk Railway, whose name has not ap-
reared on the list OF survivors IS said 10
have carried $500 accident policy This
would mean the payment Of 100000 TO his
estate In case he lost his life. II is not
believed that Colonel John Jacob Astor car
ried any accident insurance, as II is not the
custom OF very rich men 70 trouble them
selves about obtaining such protection for
their families Among the two or three
hundred men reported lost, however. the
claims or the accident companies are bound
10 be heavy.
The class OF people who insure against
accident most literally are usually those ot
fairly moderate means who belong TO the
great elias. OF wel.to-do tourists. Most OF
these travellers have accident policies rang
ing from, 5000 10 $4,000, and the double
liability clause" Is now Part OF all such
accident insurance contracts. II is believed
that when the actual losses to the accident
insurance companies are known they will,
total the largest amount ever reported
through the destruction Of any one steam
ship
So far as the large life insurance conpa-
MES have endeavored 70 estimate their
losses based on the incomplete list Of sur
v!vors received. IL is apparent that they
will net be comparatively large. The E1ui-
table Life Assurance Society cut down its
figures OF $4,000. which were estimated
Tuesday, 10 $4,000 yesterday. on the
strength Of the report that two men who
had not appeared on the early list of sur
vivors had been saved. Colonel Astor had
no insurance with the Equitable, II was
said.
A representative OF the New York Life
eorpany estimated their life insurance
claims at something under 100000. Benja.
min Guggenheim carried a policy for s25.oOo
with the company and Henry B. Harris.
the theatrical manager. one for 5000 II
was said. Colonel Astor was not insured
nv the company. The Mutual Life made no
estimate OF the amount Of insurance held
IN that company among the Titanic passen-
rs,. unaccounted for but II was said that
the amount would not be large. One OF the
,ares out.of-town companies estimated that
,,s loss would probably be about $4,000.