The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1916-03-22

| INSURANCE companies ana at necessity
It raust make its rates approximate
~ 90 low ~ the mutuals or it will not
set the business. Therefore. 1t fixes
Its expense OF operation to meet the
low cost Of the mutuals. The Factory
Insurance Association pays 10 per
cent commission to agents. The
Southeastern Underwriters Associa-
tion pays from ~ to 26 per cent. The
Factory Insurance Association takes
only certain classes OF risks. such as
are taken by the factory mutuals. The
Southeastern Underwriters' Associa-
ton takes all classes. In the cases
under confederation. two cotton ware
houses. one belonging to a company
owning large number and being in
position to place entire line elsewhere.
The other warehouse il the only one
Of IT. owners. The Factory Insurance
ADoctation would not rate 1t and the
southoastern Underwriters Associa-
tion would not give q less RATE than
enc hidf more than the rate made by
the NSctory Insurance Association on
the other warehouse. though practi-
|cally al Of the members Of the Fac
tory Insurance Association were men,
bsrs Of the Southeastern ,Underwrit-
orr Association.
60 the individual citisen Of small
properly hnds no relief in the
|prssenss Of the Factory Insurance
Associsssn.
Indeed. In thoss risks rated by the
eouthesstern Underwriters Associa-
tion itself in competition With the
factory mutuals no relief comes to the
private citizen. For instance. the
southeastern Underwriters A,socia-
tion gives : rate Of 40 cents for one
year, si2o for Ave years on the ten-
ant houses OF the Richland Cotton
Mil. ana on dwellings IN the city OF
Columbia. on paved streets. with full
i,re protection. II dives rates ef sS
cents foi. one year and $3.50 fur ave
years
+ So from the S7s.oeo. 900 or more
written IN the TActory' insurance "A.
ISOLATION and the factory mutuaIs the
private citissns set no f>lisf from.
whatever rate h charged by the South.
saseE4 undsrwriters' Association.
T1s1 ~ : feN muttiAls for drug
gists. sSNuawsxs dsalers, furriture
asAleb i161- lGundtiss but thess an
carry limited Hines. and. while they
causs savinsS 70 their patrons. they
|ass IN NO ssnss ccmpetitors with the,
southsastsrn Underwriters Asaocia-
L xha aA1ns u true Of the S17.O0O, 900
|cafrleA IN domestic mutuals, which
operate In about twslvs counties OF
|tAe otato, ThSy work srsAt savings
|tp .thttr. Aasmbsrs. and. IN thoum,nds
of instances, give the only insurance
carried. but they do not affect the
rates made by the southeastern Up
|derwriters' Association.
The insurance placed in unlicens-
ID companies 10 that Of citizens who
control large lines, and. while they
secure groat reductions In rateA 90
far a. the general public Il concern
Cd this process provides no relief
from the rates made and provided by
the southsastern undsrwritsrs Asso-
ciatlon.
Iliustratiens have been sivsn Of tho
di6srencss In rates made oy the
Southeastern, Undsrwritsrs' Associa.
tion itself whore II comes in compe-
tition with the factory mutuals. and
bstweea the southeastern Underwrit-
|srs' Aecation and the Factory In
suranes Association. the latter asso-
citation being composed Of q number
|of The same companies composing the
oou<hsastsrn Underwriters Associa-
|tioa.
Just - marked differences are to be
sea In the Southeastern Undsrwrit-
|trs Association rates and those given
by unlicensed companies. A few Of
these that have come under the notice
of the department are:
Southeastern Underwriters' Asso-
citation rate for 3 years. $3.50: unli-
censsd companies. 90 cents. South
eastern Underwriters Association
rate. SETS; unlicensed companies.
$3.50. Southeastern Underwriters
Association rate for years, $4.e3;
unlicensed companies. $500: South
eastern Underwriters' Association
rate. $1.1o; unlicensed companies, 60