The Fielding Star. TUESDAY, AUGUST 3, 1886. Fire Insurance

Feilding Star, Volume VIII, Issue 22, 3 August 1886, Page 2

The Fielding Star. TUESDAY, AUGUST 3, 1886. Fi re Insuran ce

The numerous fir.es. which- have.aQr. curred in Various parts of the ; oolony during the past few, I .months, have had the effect of compelling the 'several -Fire Insurance' Companies; doing business within its limits to raise their tariffs of fates.' Loud complamts are made in consequence by i|ißurers,' wh» feel they are being" imposed upon in a most tyranical manner. ; But there is a great deal of reason in the inorease of rates. The number of fires which have been raised by known or well suspeoted incendiaries is Very great, and appears : to be on the increase. Tl.'« tmp« isibilityof inducing juries to convict persons ',-, accused of the crime of arscraj even in the cases where the evidences of the crime have been circumstantial and conclusive, has been made the subject of comment by the Judges who have tried them It is natural, therefore, if the law is insufficient to protect the companies, that they should adopt 'some measures for self protection. The only means available for them to *e'»o«, wih «J.a: end' in view, is to ' raise their charges: It will; follow that insurers, who feel < the hardship of this, will lower the amounts for. which they, are insured; and thus briug the tax itd proper levels "It^is well known that in the ;keen cpmpotitiou for business many offices have accepted risks blindfold. They do not/a ppear to have had any dth'ero*jeot than to collect pre- : miua». We also are- aware that in the conditions annexed to policies there it provision made to avoid payments where the losses are surrounded by suspicious circumstances, or when any of the said conditions have been broken. These <( saving clauses" have, perhaps, something to do with the recklessness displayed in adcepting doubtful risks, the managers knowing they w.e^e able to repudiate them at 'discretion. : In this 1 , as vi ; .any' other business, the insurer has to pay that a few cowardly scoundrels may, lor a time, profit' %<their crimes at the expense of their f ©Hows. Still, on the whole; the Insurance cbmpanißs are' managed with greia,t abiliiyi and their directors would rapidly, lose the oonfidenee of shareholders and the public ifUiey conducted their affairs at a loss. Insurers should also remember that they have duties to perform beyond the mere payment of .premiums. Not only should they take every precaution : against fire/ and assist m saving, property, tut th^y should, whether, as jurors or witnesses, do their utmost to secure the conviction and, punishment of % this means alone would they enable the Insurance offices to lower their tariff.