INSURANCE INCENDIARIES.

INSURANCE INCENDIARIES.

The fact that incendiarism apparently increases in the same ratio that Insurance Companies become reckless and careless as to their mothods of doing business, is attracting the attention of the daily press, as well as that of the organs of the insurance companies. The wilful destruction of proporty lias increased very greatly sinco the competition for business in insurance circles has led agents to take any risks offered and for any amount asked. Over insurance is a direct bid for incendiarism, and it is not until the insurance companies restrict their policies in this respoct, that this class of fires will go out of fashion. When it is considered that the actual loss on insured property will exceed $ll)0,000,000 this year, and that a large portion of this loss is occasioned by persons who deliberately set lire to their property for the sake of recovering the exces sive amount for which they have insured it, there is good reason for the generapublie to take alarm. This vast sum of money, or its representative in value, is obliterated, and absolutely destroyed. Its loss is far-reaching, extending beyond the insurance companies that are bound to make good to the insurod the amount covored by their policies. A man who is burned out, if he lias been criminal enough to connive at the destruction of his property, is also criminal enough to pocket all the insurance money he can recover, and swindle all his creditors out of their just dues. The sums lost by business men l y this means may also be estimated by the millions of dollars, all the direct results of over insurance, or the offering of premiums for incendiarism.

Insurance men are seeking a remedy for this evil, and some of them propose to ask legislation to protect them. The legislation that is needed in the premises is such as will restrain the insurance companies from insuring property above its value. If, for instance, they were made responsible for all loses arising to property contiguous to that which they have insured above its value, and which is destroyed by an incendiary, a restraint j would bo imposed upon over insurance that would make a material decrease in the number of incendiary fires. And why should they not bo held to such accountability ? If the premiums they offer for incendiarism lead to tho dostruetion of tho property of an innocent person, the responsibility for the loss clearly rests with thoso who furnished the motive for tho commission of the crime, and that motive lies in tho over insurance of the incendiary’s property.