The New York herald., 1922-01-02
BURGLARY INSURANCE
Loss GROWSA FIFTH
Increase on Some Risks
More Than Doubled, Say
Underwriters.
LOFT THEFTS IN LEAD
Companies Refusing Risks
Until More Safeguards
Are Installed.
sCORN HOLDUP POLICIES
Robbery Now Reduced to Art,
With Minutest Details Ar
ranged by Skilled Men.

In the year just closed the insurance
companies that write burglary insur-
ance suffered unparalleled losses, due
to the prevalence of crime in this city
and elsewhere, especially at the time
Of the holiday season, when holdups
were daily and nightly occurrences and
when burglaries were particularly nu-
merous. The increase in loss last year
over the year before is estimated at
between 15 and 20 per cent. by the
most conservative insurance men, and
on some classes of risks the increase
ran as high as $50 per cent.
Detailed figures for losses will not
be available for some weeks, as they
are compiled by each company in its
home office and then turned over to
the Board Of Underwriters. 1t is
pointed out, however, that with the
insurance companies losing much more
than in other years the total loss must
be great, as hardly one person in five
carries such insurance. Mat the sum
viii run into the millbns is not
doubted by the insurance men.
Views Of Largest Companies.
The New York manager for one thor
oughly conservative company. which has
its head Office in Maryland. said that
conditions were substantially the same
all over the country during 1921. the
worst spots being New York. Chicago
and San Francisco. He estimated that
the total increase in losses on burglary.
robbery and kindred insurance written
by his company would be between Is and
20 per cent. This was in part due to
the crime increase. he said, but also to
the fact that the average loss for his
company resulting from the robbery of
a residence used to be between SIS and
s100. whereas 1t is now between 5000
and $500.
This man said that on certain lines of
Insurance, where fair average loss for
the year would run about SO per cent.
the average for the year past would
approach 125 per cent. In the last three
months of 1921 the number of loft rob-
berries had been so high that the COM
pany had determined not to write
policies for this sort of insurance unless
firms put In additional safeguards.
We'll. I'm glad to see the holdup men
had hard time Of 1t a few days ago."
said the manager Of another New York
agency. IF they'd shoot a few more it
would do lot Of good"
Losses Far Above Other Years.
This man put his losses far above
those OF the year previous. He explained
that what was true of his concern was
true Of nearly all the others. Were It
not for the other forms Of insurance
they wrote the situation would be quite
hopeless. so great were the losses
In each instance the manager smiled
broadly when the question Of recoveries
was mentioned. One said. There ain't
no such animal" and the other con-
tended that the recoveries of his COM
pany would be negligible. A third man.
representing one Of the largest COM
panies, acknowledged that possibly SIS 900
worth OF goods stolen from his clients
had been recovered. He added. however.
that losses within the last month had
aggregated $4,000.
'As far as this city is concerned" he
said. the chief trouble is that il is
under policed. There are not enough po-
iscHich Oii post at nlBHt, TlRnt In the dis
tricts where most of the bigger robberies
occur. A few years ago this was not
the case. but we have now come to a
time when the policeman is used for so
many other things than patrol duty that
II Is not to be expected that the city can
be properly patroled with the number of
men available. Why. only day or two
ago i saw policeman on a milk wagon
In the carly morning sound asleep He
had been on duty twenty-five hours
At another insurance office the list OF
causes for the crime wave and it's re-
sultant losses to the insurance COM
panies included the general moral break
down due to the war. unemployment.
abandonment OF the third degree"
method of dealing with known crimi-
mails. overcrowded condition OF the
courts. use Of policemen on strike duty
and other work of that kind. influx of
foreign servant girls. held largely re-
sponsible for residence robberies. and
scientific business methods now being
used by criminals.
One man pointed out that four men
suspected OF robbing fur lofts were
arrested on a certain date recently and