. Bulletin of the Department of Agriculture. Agriculture; Agriculture. BULLETIN No. 786 iff _ ,. -v?-; JZ^'^Ji, Contribution from the Bureau of Markets CHARLES J. BRAND, Chief. Washington, D. C. May 28, 1919 PREVAILING PLANS AND PRACTICES AMONG FARMERS' MUTUAL FIRE INSURANCE COMPANIES. By V. N. Valgren, Investigator in Agricultural Insurance. CONTENTS. Page. Introduction 1 Location of companies, date and method of incorporation 2 Membership, votes, and annual meet- ing 4 Directors and officers 5 Hazards and risks 6 Business territory 7 Plan of raising funds and frequency of assessment 8 P
. Bulletin of the Department of Agriculture. Agriculture; Agriculture. BULLETIN No. 786 iff _ ,. -v?-; JZ^'^Ji, Contribution from the Bureau of Markets CHARLES J. BRAND, Chief. Washington, D. C. May 28, 1919 PREVAILING PLANS AND PRACTICES AMONG FARMERS' MUTUAL FIRE INSURANCE COMPANIES. By V. N. Valgren, Investigator in Agricultural Insurance. CONTENTS. Page. Introduction 1 Location of companies, date and method of incorporation 2 Membership, votes, and annual meet- ing 4 Directors and officers 5 Hazards and risks 6 Business territory 7 Plan of raising funds and frequency of assessment 8 Page. Liability of the insured 9 Classification of property 9 Method and cost of getting business- 10 Salaries of directors and officers 12 Adjustment of losses 12 Surplus and refunds 13 Reinsurance 14 Conclusion 14 INTRODUCTION. There are about 1,950 farmers' mutual fire insurance companies in the United States. These companies have in general shown a high degree of stability and have proved of much value to their members. The total amount of insurance which they now have in force exceeds $6,000,000,000. A questionnaire was sent out by the Bureau of Mar- kets making inquiry concerning the plans of organization and the business practices of these companies. The information contained in this bulletin is largely a summary of the replies to this question- naire. The organizations here classed as farmers' mutual fire insurance companies are those mutuals whose risks consist either entirely or very largely of farm property. In most States where these com- panies exist they are recognized as a separate and distinct class of insurance organization and operate under laws which practically Note.—This bulletin should) be of special interest to the directors and officers of farmers' mutual insurance companies, and to those who contemplate the organization of such companies. 104975°—19—Bull. 786. Please note that these images are extracted from scanned page images that may have been
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