| Show I Fire Insurance Reaps Small Profit It has long been an establIshed economIC principle that every very bUSIe bUSIness bUSI- bUSI ness Hess is entitled to a fair profit forI for e I Ithe the service or commodity it sells The Dhe fire insurance industry is one of the cornerstones of the Amen Amen- can cm social sacral and economic structure It l J pro provides Ides us with a vital form of pro pro- protectIon protection pro protection on which credit trade home homebuilding homebuilding building industrial l development and business relations of all kinds depend In the trust sense of the word it as asa isa a public service industry Yet fire insurance companies have ha operated for years without adequate profit Many of them then have actually lost money According to W E Mal Mal- 1 Mal Mal-lalieu al- al aheu General manager of the Na- Na NatIOnal National Na National Board Board of rue File Underwriters be sJ 1 tween In 1925 ard and 1029 1929 inclusive the Industry earned an underwriting pro pro- profit profit pro profit fit of only 1 12 per cent The Na- Na NatIonal National Na National Convention of Insurance Com Com- CommISSIoners Commissioners Commissioners missioners has said that the indus indus- industry industry try should have a five the per cent re- re return return re return turn to make certain of that securIty that is rightfully demanded from fire insurance The public has had the benefit for many sears vears ears of constantly insurance rates The industry's dIf dIf- dIfficulty difficulty dif difficulty lies in m the mania of legisla legIsla- legIslators legislators legislators tors for more regulation and con con- constantly constantly con constantly mounting insurance taxes It L gli 1 on nn Jooa 3 authority that nO great industry suffers more from the ravages of the tax collector And suggestIons for still more taxes and tIll still more insurance laws s are ah a always al s forthcoming e ItIS It is dangerous to tamper with the fire firc insurance industry The T he Ameri Arneri AmerIcan American can people should demand that it be beall all allowed 0 ed a living v age |
