The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1916-03-15

uoPT'eo Ot the prOtecttOn they have
been accustomed to and which Is a
necessity under existing business Gus
toms. They will be without protec-
ton Indefinitely If they sit down and
simply wait for the insurance COM
bine to give 10 back to them.
The only alternative to a complete
surrender to the insurance combine by
the people Of South Carolina and the
state government is for the people to
organize cooperative insurance asso-
Citations and, by pooling the money
they have heretofore paid over to the
insurance companies, provide the
funds needed to carry their own in
surance. This is the way out. and it
"! were possible to arouse a spirit of
independence and cooperation among
a majority of the business men. South
Carolina could quickly and once for
all free itself Of the autocratic
rule OF the insurance combine.
To work out the details of cooper
ative fire insurance associations might
not be as difficult as It woul pear
at first glance.
The following idea suggests itself
as a starting point: Instead Of organ
ising OH the basis Of State. county
or town mutual 1t might prove more
advantageous to organize class mu-
tuals. SIMILAR to the fire insurance
mutual Of the National Hardware AS
sociations or the cotton mill mutuals.
As an illustration take the State Press
Association and the South Carolina
Master Printers Association. which in
clude practically all Of the printing
ablishments In the State. These
two associations could organize q CO.
operative fire insurance ASSOCIATION to
write all the insurance on printingpf-
fices In the State. At the outses n
might be neither feasible nor safe fof
the association to undertake to carry
all of this insurance, since the pre-
miums paid in for the first few years
would not provide fund sufficiently
large to cover oil the loss that might
naturally occur according to the law
OF averages. But such an. association
through Its regular officers could,
without doubt. reinsure such part Of
the total as seemed desirable In old
line compaies that are not controll-
ed by the combine. In time an as
sochstion Of this sort, would be able
to carry All Of the printing office in
surance of the State at q lower rate
than the old line insurance compa-
nies have exacted.
Other lines Of business could or
ganize similar associations and they
would soon ronder very large part
OF the insuring public independent OF
the insurance combine.
The plan Of class fire insurance mu-
taals rather than mutuals or local
stock companies writing all class
es OF risks Is suggested for
several rcasons: The risks would be
scattered all over the State and the
probability of a heavy loss at one time
would be less than whore a large
number of risks are carried in the
same community. The details Of man.
agement. tho fixing Of rates and the
adjustment of losses would be simpli-
fed. It's directors and ofacsrs would
be thoroughly acquainted with the
value Of property insured and there
would be less chance Of over insur-
ance. or over payment Of loss in case
OF partial or total destruction of the
property insured. The writing of pol
icies and acceptance of risks could be
regulated by stringent rules requiring
detailed specifications and inventories
OF tho property insured to be filed
with the application. as the needs of
each class Of business might indicate
as desirable.
The way out Of the insurance dead
lock is to be found by self help, and
the class mutual seems to be the most
feasible plan of procedure, in the
emergency.
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