American Agency Bulletin Volume 10-11

American Agency Bulletin Volume 10-11

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This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1912 edition. Excerpt: ... figures will not justify much reduction in the rates. The purpose of the Board is to bring about cheaper insurance and in order to do this we must bring about better conditions. The companies are to a measure at fault for the loss ratio in this state. Too many companies are cutting each others throats in order to control certain risks. Over insurance is undoubtedly one of the greatest evils in the business and this to a great extent must be looked after by the companies themselves. It is true, however, that they are having a high loss radio forced upon them by the Valued Policy Law. Honest men desire only to be made whole in case of loss and the companies should not be put at the mercy of dishonest men, especially when the state attempts to make the rate. He said that if the Board Is to fix the rates for fire Insurance he believed all the property in Kentucky should be written only in companies authorized to do business in the state and by agents residing in the state and licensed by the insurance department. He also gave emphatic assurance that the Board would do everything In its power to place a Resident Agent's Law on the Kentucky Statutes, and also to secure the passage of a bill repealing the Valued Policy Law at the next session of the State Legislature. He believed that the trouble had been that the companies have not let the public into a sufficient knowledge of the business. He believed rates in Kentucky were too high; that insurance was costing too much, and that there was no reason why it should cost more in Kentucky than in Indiana, excepting the fact that the loss ratio is higher. The State Rating Board desired that the companies display more care and judgment in the selection of risks, and desired to bring about...
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Product details

  • Paperback | 678 pages
  • 189 x 246 x 35mm | 1,193g
  • United States
  • English
  • black & white illustrations
  • 1236750012
  • 9781236750013