The coastland times. [volume] (Mnateo [i.e. Manteo], N.C.) 1947-1959, 1958-12-19
pro,perty.I


Three communities, West Mount,
Red Oak and Stoney Greek have
met the requirements of the State
Insurance Department in Raleigh,
which made the lower rates pos
sible. In Nash County Perry
O'Berry is County Fire Marshall.
The example set by these commu-
mites has encouraged other COM
munities to now make efforts to
meet requirements for reduced in
surance rates, and eventually the
county officials hope to have re-
duced rates in effect throughout
the county, the Nashville Graphic,
weekly newspaper says.
In order to qualify for lower
rates, fire district must be serv-
ed by fire department that is
equipped according to strict stand
ards set by the State Insurance
Department. The department must
have a pumper unit that will pump
go gallons of water per minute
with 100 pounds of pressure and
must have a water-carrying unit
with minimum capacity of 1900
| gallons.
The list of required equipment
also includes ladders, buckets, rope,
wrecking tools, lanterns, hand
pumps, foam extinguishers, show
els and two-self-contained breath
ing units.
In cases where a fire department
serves both a town with fire n.y.
drants and a rural area, there
must be an extra truck for the
protection of town property when
firemen are on rural call.
Insurance Commissioner Charles
F. Gold has stated that the North
Carolina Fire Insurance Rating
Bureau made filing December 8
requesting a revision of extended
coverage and windstorm rates for
the Seacoast Territory comprised
of 10 counties including the coun-
ties of Beaufort, Currituck, Dare,
Hyde, Pamlico, Tyrrell, and Wash
ington. The proposal singles out a
limited area of the state wherein
prohibitive rates of insurance will
be charged, to the great disadvan-
tage of its people.
1t was proposed that the deduct
ible of $50 be increased to $500;
further, that a Beach Territory
be established in the following de-
fined territory: Localities south
and east of the Inland Waterway,
from the South Carolina line to
Fort Macon beaufort Inlet)
thence south and east of Core,
Pamlico, Roanoke and Currituck
Sounds to the Virginia line being
those portions of land generally
known as the Outer Banks"
That in the new Beach Terri
tory, the 500 deductible apply and
extended coverage rates be in
creased 1000. The extended cover
age rate on frame, approved roof
beach cottage is now $40. The
proposed rate would be $40. Also,
that for the beaches, a Windstorm
and Hail Exterior Paint and Wat
erproofing Clause be approved,
which reads as follows: "This pol
icy does not cover loss caused in
any manner by windstorm or hail
to paint or interpreting material
applied to the exterior of the
building (s) or structure (s) COW
cred hereunder. The value of paint
or waterproofing material, being
excluded from the coverage as
above stated, shall not be consider
ed in the determination of actual
cash value when applying the Co.
Insurance Clause applicable to
windstorm or hail perils."
In making the filing, the North
Carolina Fire Insurance Rating
Bureau submitted an exhibit show
ing loss ratio of over 5000
which did not include recent losses
from Hurricane Helene. In COM
menting on this, the Bureau filing
said: "In the light of this expert
ence (and of that of Hurricane
Helene which is not included in
the above tabulation as it occurred
in 1859 many companies, MEM
bers of this Bureau, have with
drawn or are contemplating with
drawing their facilities from the
area, feeling that with current in
adequate rates and too liberal
forms, only a continuation of the
past heavy underwriting losses
can be anticipated"
In view of the statutory require
ment that thirty days notice be
given before a hearing, Commits
sioner Gold stated that it could
not be heard until Tuesday, Janu-
airy 6, 1859. The public hearing is
scheduled in his office at 1000
am. on that date.
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