Our Firemen, The History of the NY Fire Departments
Chapter 54, Part III
By Holice and Debbie
In the case of chocolate makers the policy specified that the company was not responsible for loss of stock in drying. In that of corn in stacks, stock in stacks and hay in stacks the clause was :not responsible for damage in natural heating." Country stores were privileged to keep gunpowder. In the case of mills several insurance companies were at liberty to fix their own rate of premium. These rates were more or less strictly adhered to, thanks to the prodding of those who were disposed to "cut" by conservative companies. Matters of this sort appeared to have been harmonized February, 1820, by a resolution appointing Messrs. Tibbits, Henderson and Laight a committee "to consider and report at the next meeting of the representatives of the Fire Insurance Companies what penalty ought to be incurred for any willful deviation from the rates of insurance agreed upon by the respective fire insurance offices, which penalty if agree to shall be referred to the several companies for concurrence, and when concurred in shall be binding on all companies," thus established a Tariff Association.
A step similar to that legalized in 1886 was taken in April, 1821, under the following resolution: "That a committee be appointed to examine the policies of the different companies for the purpose of having them uniform." A uniform "Form of Policy" was agreed upon on the 19th of June. It was so clear and distinct insetting forth the interests of the insurer and insured that I was used until recent years as was the "Rent Policy" and "Form of Application" approved of at the same time.
The classes of hazards and rtes of annual premiums were set forth in the following table:
CLASSES OF HAZARDS AND RATES OF ANNUAL PREMIUMS.
Not Hazardous.--Goods not hazardous are to be insured at the same rate as the buildings in which they are contained, and are such as are usually kept in Dry Goods stores, including also Household Furniture, and Linen, Cotton in Bales, Coffee, Flour, Indigo, Potash, Rice, Sugars, Teas, Spices, Paints ground in Oil, and Threshed Grain.
Hazardous.--The following Trades, Goods, Wares, and Merchandise are considered hazardous, and are charged with 12-1/2 cents per $100 in addition to the premium above named for each class, viz.: Booksellers' Stock, Chair makers, Chocolate makers, Confectioners, China, Glass and Earthenware in packages, Flax, Hemp, Printers' stock, Milliners, Musical Instruments Sellers' stock, Oil, Pitch, Pictures and Prints, Sail makers, Ship chandlers, Spirituous Liquors, Saltpetre, Tin, Turpentine, Tavern keepers, Tobacco manufacturers, and Watch makers' stock.
Extra Hazardous.--The following Trades and Occupations, Goods, Wares, and merchandise are deemed extra hazardous, and will be charged 25 cents and upward per $100 in addition to the premium above specified for each class, viz. Aqua fortis, Apothecaries or Druggists, Boat Builders, Coach makers, Cabinet Makers, Carpenters in their own shops or buildings erecting or repairing, Chemists, China, Glass and Earthenware unpacked and buildings in which the same are packed, Coopers, Dyers, Ether, Founders, Fodder and Grain unthreshed, Hay, Musical Instrument makers, Spirits of Turpentine, Straw Soap Boilers, and Tallow Chandlers, and all manufactories requiring the use of fire heat. Gunpowder is not insurable except by special agreement.
Special.--Mem. Bakeries, Breweries, Bookbinders, Distilleries, Fulling Mills, Grist Mills, Malt Houses, Paper Mills, Printing Offices, Sugar Refineries, and Saw Mills may be insured at special rates of premium.
Country Houses.--N. B. Country houses standing detached from other buildings,, though of the 6th, 7th, and 8th class, will be insured at 50 cents per $100. Barns and stables in the country 75 cents per $100.
Ships in port or their cargoes, and Ships building or repairing may be insured against fire.
The first standing officers of the Salamanders were elected September 8, 1823, when Mr. Jackson of the Globe was chosen Chairman and O. H. Hicks of the Fulton, Secretary. In October Messrs. Tibbits, Lord, Champlin, and Mercein were appointed a committee to draft by-laws for the guidance of the Board. A set was approved in December. In January, 1826, a new organization, a revision of rates and the consolidation of interests were considered, and among other things it was resolved that a deposit of $500 be made by each company to insure adherence to rules and regulations and that "the fund so deposited by the several companies be placed in charge of the hypothecation of any funded debt of the United States, or of this State, or the hypothecation of the stock of any banking institution in this city the value of which said stock when so hypothecation shall be above par, the interest so accruing on said loans to be paid over annually or semi-annually to the respective companies." A meeting was held and the resolutions were agreed to except by the United States, Firemen's and Greenwich Companies, and the outcome was a new association of companies known as the Fire Insurance Association under the presidency of Mr. Jackson. This organization established new tariff rates in 1835, when there was a reorganization due to collapse, in 1842, again in 1844, after the second great fire, and afterwards in 1848. The most stable of the association, the Board of Fire Companies, was organized in 1850.
Transcribed by Holice B. Young
HTML by Debbie
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