The Sentinel=record., 1913-12-13
NEW INSURANCE
 RATES IN EFFECT
IN MANY INSTANCES THERE ARE MATERIAL INCREASES OVER
 FORMER RATES.
New Figures Promulgated by Arkan- sas Actuarial Bureau and Makes City in Four and One.haf Class.

Hot Springs insurance rates were revised and put into effect yesterday when every agent in the city received from the Arkansas Actuaral Bureau a | book describing every risk in the city and setting forth exactly what rate should be applied.
 The new rating is under the author | ity of the state law, Act No. 159 Of I the general assembly of 1913. which | requires a personal inspection of ey- cry risk and which provides for yiola- tion of any of the rNes of the Bureau a fine of s1,000.00 or suspension Of the authority to write insurance in the state.
 The new ratings place Hot Springs in a class called -four and one half, the classification being the general basis for the rates made effective. The policies in force are not inter fered with by the new rates announc- ed, but their renewals will be based on the rates of the book issued by the ! Actuary.
 Local insurance men met yesterday and discussed the situation. They generally agreed that the rates were not exoribtant when the conditions were considered. but that there should be an aggressive campaign made for the bettering of conditions SO the general classification could he inn proved. and for such improvements in ! the individual risks as would secure | better rates for the owners.
 Tt is the first genuine classifca ton of risks the city has ever had. ." said MT. Walter Little yesterday '"There are some material increases, ' and some material reductions, but there is a uniformity of the rates fixed by the physical conditions, and with the new rates effective there ! certainly will be no distinctions"
 "One good result will come of the situation. Where the rate has been plaint to his local agent, to ascertain l why and the detail of why the raise is made will be explained. Improving fire protection facilities on the indi.
 vidual property will result, and as 8 result the city will gradually benefit.
 With the enforcement of the new l rates comes again the question oi
 what Hot Springs is going to do in
 the matter of increasing it's fire de partment and increasing the eqnip
 ment of it, and extending the water service. It has been estimated thaj
 Hot Springs would have to incur 8
 debt of probably $40,000 in order tt Iproperly equip the department. Two
 more auto-trucks, a motor for the aerial truck, and much additional
 small equipment could be supplied a;
 a cost of something less than $40,G00
 The argument in behalf of this ex lpendiure comes in the fact that Hot
 Springs now pays in insurance pre-
 miums about S200,0 GOO every year. II
 the fire department were increased tc meet the demands of the Actuarial | Bureau, the city would secure a gen leral reduction in rates of about 20 per lcent which would mean that there
 would be saved to the property hold. CTS of Hot Springs the entire $40,0oo
 in one year
 The insurance men realize now
 that uniformity will be enforced, and
 that rates will be governed by the actual physical conditions existing O; and about the property, and that their patrons can be saved many dollars by having more knowledge of ths de mands of t1,e Actuarial Bureau TO the end that a general pu.5hcity cam paign may be waged, the local agents have formed an organization and will meet al a luncheon at least once each week for the purpose of considering l together the progress of the cam. paign.