Proceedings of the Annual Meeting of the Fire Underwriters Association of the Northwest Volume 16 (1885) (Paperback)

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1885 edition. Excerpt: ...for their companies, and the general lack of backbone on the part of Local Agents where any big, profitable customer is concerned. This much is the outgrowth of the present reckless competition and the fault, largely, of the companies. To remedy this state of affairs the insuring public must be taught that the insurance companies have some rights which the public are bound to respect, and I know of no more forcible way of impressing them with that idea than for the companies to take hold of and perfect some such system of inspection as I have suggested. Sharp, shrewd business men are not slow in learning how much jealousy, and discord, and reckless forcing of business exists among us, and that they can, as a rule, manipulate Local Agents ad libitum. The Local Agent is human and loves his commissions, which are his livelihood. Insurance capital is regarded as a kind of public fund, claims upon which, no matter the character or amount, are legitimate, and I believe the time has come when the companies, like that historical jury of "sporting" men, " must stick together " and do away with this state of affairs. That the scheme I have proposed will be regarded by many of you as "Utopian" and impracticable, I do not doubt, but I believe it to be one important move towards stopping the constant increase in our loss ratios. High rates have proved unavailing, for the average percentage is greater than years ago, when losses were lighter and profits greater. The expense would be large and the labor of perfecting the details of the work, which I have set forth only in the rough, would be greater; but serious maladies require heroic treatment, and I believe the expense and labor would be repaid tenfold by the results. The plan...