Leadership

WESTERN CHIEFS URGE CHANGES IN FIRE LOSS ESTIMATING

Issue 10 and Volume 97.

WESTERN CHIEFS URGE CHANGES IN FIRE LOSS ESTIMATING Believe Present Methods Inaccurate and Lead to Misuse of Loss Records WE often hear fire losses stated, for instance the annual fire losses as compiled by the National Board of Fire Underwriters, which are accepted everywhere as correct, and which unquestionably are the nearest to accurate figures available at present. These figures, however, are not true reports of fire losses, but a record of the losses paid by insurance companies to their respective clients, plus an estimated percentage to cover uninsured losses. Chief Alderson of Los Angeles, and his Southern California colleagues, at their conference of June 14, 1944, approached the subject in a very proper manner by first raising the question of what constitutes a “fire loss.” Secondly, they quite properly pointed out that in order to be of any value, these fire, losses will have to be determined by a…

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