New-York tribune., 1917-06-11
Fire Loss Grows
AS Amount in
Risks Increases
Insurance Companies in
1916 Do Larger Business
at a Smaller Profit

Albany, June 10.-Insurance COM
panies doing business under the laws
of the State Of New York wrote ST.
14l.SO5.42S in fire risks last year, an
increase of ssO1 ,sS9,O3s compared with
the preceding year, according to the
annual report Of the New York state
Insurance Department covering the
audited statements Of 275 fire, fire ma
rine and marine insurance companies
The excess OF fire premiums received
over fire losses incurred and estimated
expenses was s9,606,314, slight de-
crease from 1915.
A summary of the operations and
financial condition of these companies
shows that they held on December 81
last admitted assets Of SS67, ,6l4,SS6, an
increase of SS4,6Ol ,O54 over 1915. The
liabilities, excluding capital, are stated
to have been S477, ,1S2, an increase
Of sos, ,3s713 over the previous year.
Total Income Jumps
The total income was 24,763,212, an
increase Of S71,554,079. OF the income
s466,3s9, ,997 was for premiums. being
an increase in premiums OF S6S,2O9,Zo5'
The total disbursements were s45S,6o5'-
1853, exceeding those of 1915 by SOL
155,070. The loss payments to policy
holders show an increase of s22,1ol'-
57s. The amount Of unpaid loss claims
shows a material increase over those
outstanding at the end of the previous
year.
The total insurance in force OF all
fire, fire marine and marine companies
ar the end of the year was S71, ,144,628,-
oO3. an increase of about S6,000,OOO ,OOO.
The underwriting result, based on
earned premiums, shows a gain from
underwriting of S23.676.268. The gam
from investments was $35,96l .9T; the
loss 20 surplus, due TO dividends, bal
ance of remttances TO and from the
home offices of foreign fire insurance
companies and changes in special re-
serve items, amounted to SAB, ,1i2,2lo'
the total result being a net gain IN sur
MUS from all sources of Sl5,S66,O29.
The gross assets Of the United States
branches of foreign fire insurance com
panies held by trustees or on deposit
with insurance departments IN the
United States show an increase over
1915 of 100000 and the net assets
Of United States capital of the above
companies an increase of S723,OOO.
Companies Well Intrenched
"The fire loss in some Of the larger
cities of the country has apparently
shown a decreasing tendency for the
last two or three years" said Jesse y.
Phillips, State superintendent OF In
surance, "due, possibly, to the wide
spread exploitation and efforts of the
fire prevention associations, which are
most fortunately becoming larger IN
number. membership and activities each
wear. and the more rigid system of in
spection of buildings by the larger mu-
nicipaities. On the whole, however,
the 1916 fire loss shows a material IN
crease over the previous year, when
was by comparison an exceptionally
good one for the companies from the
viewpoint of losses. IL would seem
that with possibly more stringent
building codes in the smaller cities OF
the country strictly enforced without
fear or favor, the per capita loss by
fire in the United States should within
reasonable period show very ma
teral decrease. though il is perhaps
too much to expect that 1t Will ever
very nearly approach the extremely
low per capita figure of the European
countries. whose laws are more drastic
and which in many instances penalize
property owners for losses sustained
by adjoining owners through careless
ness or neglect. However, it appears
that in spite of the unfavorable loss /
experience of the companies in 1916, |
which from present indications bids |
fair to be equalled or perhaps exceeded |
in 1917, they are, so far as those re-
porting to this department are con-
cerned, in a satisfactory financial con-
dition and well prepared for whatever /
may reasonably be expected to befall |