New Britain herald., 1926-05-25
SCHOOL INSURANCE
 CAUSE OF PROTEST
Underwriters Object to C0mmtT- Cial Company Having Monopoly
FEAR LOSS IN BUSINESS
Board of Education Holding Spec tai Meeting Today to Consider Bill Of Particulars Filed by Agents,


 Bill Of Particulars Filed by Agents.
 Almost the entire m enbership of the New Britain board Of under writers protested to the school committee today against adoption of q fire insurance plan prepared by the Commercial Co. which, ac- cording to their understanding would give that company mon onoly on new business amounting to approximately $2.0Qn,000.
 The decision to formally object 10 the reinsurance project vas reached al a gathering ol repre- sentatives of local agencies, but II was not however a formal meeting of the Underwriters association.
 The plan contemplates coverage on freproof buildings and increases on other structures now covered in amounts much less than their ac- cepted valuations. The bulk of the new risks to be taken on are for fireproot buildings.
 Underwriters Visit Mayor
 \ committee Of underwriters visited Mayor Weld at his office this morning and made known to him their objections. The mayor learned for the first time that the new policies were not intended to be taken in proportion to the amounts now carried by more than q dozen agents in their agencies. He was of the understanding that existing policies were 10 remain with the companies now holding them and that new business vas 10 be given out in the same pro- portions.
 A representative of the Conner, cial Co, which is an adjunct Of tac Commercial Trust Co.,. drafted the insurance plan which received the approval Of the finance and taxa {, ton passed concurring vote. ;
 When he appeared before the board of finance and taxation he oX- platn"d the proposals. Persons l. present recalled no specific mention of tho new business although it vas stated that tho old policies would be '. rewritten. # loT ,r rate, and -l- ! Io~sd n remain Titt he compani.s now holding them.
 Would Hurt Others BusiRcss
 The effect of such action will be ! o lower the school insurance income of those agents who receive no part of the new business. Should thAlr ihare of the additional policies b. light it would he possible that even Inde- those conditions the deficit would not be made up. However. if heir understanding Is correct and he Commercial Co. Is given all new 'olicies, there Is certain to be Q re- uction in their income from muni- tpal business, they agreed today. j.
 T. was the intention Of the under i writer's today to interview all mem l ers of the school committee many { f whom, they expected. would be { urprised to learn of the proposed program. ' The note of protest. which hears | he signatures of more than 2 dozen z insurance agencies, follows:
 Whereas, the Commercial Co ' as submitted q plan for schedule S insurance Of the school buildings T nd blanket insurance on contents r 7volving a considerable increase in f he amount of insurance "a be car f jed, such insurance. we understand, f , be placed with t,e Commercial I 0. eve, members of the New Britain !, ioard of Underwriters conscianti- " usly believe that as taxpayers Of " 1e city, the increase Of insurance f 1ould he distributed among the un- s ersigned in proportion to the tn- .. lranco now written hy the under .. Gned together with al}otmerts to es- ., ,blish agencies which have insur- o nee at the present tima, allowance :, aing made for the time and efforl :, tpended by the Commercial com 7 any. Inasmuch as lower rates on e, similar plan have been submitted " Y one or more Of the undersigned /, ithln the last three years, we dc ~ 1t feel that undue credit should .. ave been given tha Commercial CO. IT the results which they have ac- U Y
 Long Wi1I Voice Protest !" William I. Long member of tho [. 'hOol committee today announced :" 9 will oppose adoption of the Com ,- ercial Company's plan when it . ,mes before the board at a special '' eeting this afternoon at 4:30
 CContinued m Pare In) III