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

(, - nre Insurance company IL prob
eH|,s within It's rights when 1t refuses
= ~ tie bustnsss In any State, county
\ a. town. or TO insure the property of
any, particular Individual. II the
M OF state. municipality prove
: a IA or appear to be. unfair and op-
J, eu)ves % that the Insurance COM
q U4uy cannot carry on its legitimate
o4 y usual business In safety and pro-
N4tbU 4 would seem that the COM
t3ny = fully justified In refusing to
~ nuslness In that state or munici-
/, 141U. II y not reasonable nor In ac-
80 with the laws of trade to attempt
eosos corporation or an individual
\ - business NJ loss under harsh
~ rmDeotble regulations. It is as
\ QC|ned that the companies af,liatsd
vUh the eouthsastern Underwriters
! A<bos la&ion take the position that the
on>1-tompact law. recently enacted by
\ ~ South Carolina legislature. 10 un-
q d and oppressive. and that for the
a. ineurancs oomparlss to continue
b(sinsss In South Carolina under the
p1cviaiOns Of this law would BE- neith-
81 rate nor profitable. For this rsa-
-, and for this reason alone. they
Rpld b justined in Withdrawing
fsbaa NE State. a. individual corpor-
o)ans.
The insuranoe companies cannot
1QVo he State TO enact such laws, a.
p'les their purpose, but they can and
K h4Ns dstsrminSd to show their re-
eeASUsat by striking back against the
p0otsle of the State. They are pun
h1i's not only their agents who have
Z ssrled living handling their bust
iness Ia South Carolina. but are also
bpnishing All citizens who have been
n ecu seemed to do business with them.
x IN ever, the drmage that the public
nins By the sudden refusal Of the
;51cu1onco companies 70 write IRE In
:Cleei,ee In the State u not Of ma
eqF~ that cannot be repaired. The
Z qpexpsctednsss Of the action by In
sprance companies that wipes out
without warning = well established
Agency Of public service II a. a mat
tsr ef TACT the sole damage that the
pgopls Of the state have sustained. or
w]ll sustain. The insurance. compa-
NY Are depriving South Carolina of
Pneehing save service and the organi-
nv>t0r and machinery for rendering
t9at service. The insurance compa-
p>ou Oro not and have never been
oeeemosynary institutions. They have
Enacted full payment FOR every act Of
oervice rendered and for every dollar
Of protection afforded tho property
owners Of South Carolina. The peo-
pls who have insured property havo
always paid every dollar OF loss that
has occurred In the State. The in
surance companies may have paid out
moro money some years than they re-
csived. but In tho long run they have
collected from the insuring public suf-
hcient TO pay all losses and, In addi-
ton. . handsome profit. to say MOTH
ing Of the fees and commissions to
local and general agents and the
hsavy nxed charges In the way of
operating expenses that are taxed up
against the business before met In
come from premiums is compared
With 'losses paid" to ascertain the
proht or loss on years business.
The people pay and pay we'll for
the protection they obtain through
the fundamentally OF the fire In
surance companies. 1t was due TO
the widespread belief that they
were paying too much that prompt
cd the enactment OF the anti
compact law. The people believed
they were being forced to pay too
dearly for the service rendered by
the insurance companies and they
resented IL. Their resentment was
registered by tho enactment Of law
designed to force the Insurance COM
panies to render the service ut more
reasonable rate. The insurance COM
panies refuse 60 be forced to reduce
their rates or alter their methods of
doing business. The result Is q dead
lock that will continue indefinitely.
unless the State OF South Carolina
backs down at tho behest of the in
sprance combine and repeals the anti
compact law. or the insurance COM
panies reconsider their determine
tion to withdraw from the state.
In tho m On nwhilo fha ,rnnart.. oxu.,