Lower Sprinklered Rates in Chicago.
The tendency of sprinklered rates in Chicago is still steadily downwards. The new formula for writing eqttiped risks, adopted in that city last year and making a material reduction on the better class of property, was limited to plants outside the downtown district. This limitation was removed on April 30, after which the lower schedule will be in force on all sprinklered properties with not more than three manufacturing tenants. This will extend the lower rates to the great bulk of the sprinklered values in Chicago, including such properties as the Marshall Field wholesale and retail plants, the big department stores, all of which are sprinklered, and most of the wholesale houses. It is estimated that the average reduction will be about 15 per cent, although some superior risks, with all the sprinkler supervisory service, may get a little more. The change • extends the lower rate to about 130 risks in the downtown districts. The values involved are estimated at over $100,000,000, and the reduction will apply to over $500,000 of premiums.