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Cyclopedia of Insurance

IN THE

UNITED STATES

1913-1914

ESTABLISHED IN 1891 BY H. R. HAYDEN

HARTFORD, CONN.

1914

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Annual Cyclopedia of Insurance.

A

AACHEN AND MUNICH FIRE INSURANCE COMPANY of Aix-la-Chapelle, Germany. Joseph A. Kelsey, manager for the United States, with headquarters at New York; S. H. Quackenbush, superintendent of agencies. Admitted assets, December 31, 1913, $2,589,572; liabilities, $1,414,719; net surplus, $1,174,853.

ABEILLE FIRE INSURANCE COMPANY, Paris, France. Starkweather & Shepley, Inc., United States managers. Geo. L. Shepley, president; Emil G. Pieper, superintendent of agencies. Assets, December 31, 1913, $594,718.90; liabilities (except capital), $173,411.93.

ABANDONMENT. In marine insurance the relinquishment of an insured ship or cargo to the underwriters when the same is damaged and the claim is for a total loss. There is no abandonment in fire underwriting.

ADJUSTER. The business of an adjuster as known in American fire insurance is to examine into losses and settle upon the amounts due. He is a regular employee of the company, usually, although there are some independent adjusters who work for any company employing them, temporarily, or on particular losses. In most cases, also, the adjuster acts as appraiser except where an official or technical appraisement is to be had. There have been at various times adjusting bureaus and adjusting companies, as well as adjusters for the insured, but as a rule the policy-holder is satisfied with the company's adjuster.

ADJUSTMENT. In fire insurance practice in the United States this work covers the act of the adjuster in settling a loss as well as its apportionment between different insurers. The latter is sometimes difficult and puzzling in the case of non-concurrent policies, and these difficulties have given rise to a number of rules for such apportionment. Among these are the "Finn," the “Albany," which is similar; the “National Board,” “Griswold," and "Kinne.”

ADLARD, WALTER, secretary and managing underwriter of the Massachusetts Fire and Marine Insurance Company, Boston, is of English and Dutch descent, and was born in Brooklyn, N. Y.,

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