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The Anderson Daily Intelligencer
Anderson, Anderson County, South Carolina
What is this article about?
In Columbia, South Carolina, the sinking fund commission will meet on March 27 to receive bids from fire insurance companies for re-insuring 60% of the state's insurance risks, aiming to save on premiums as per the general appropriation bill.
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ITS OWN PROPERTY
Sinking Fund Commission Has
A Good Line of
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Columbia, March 21.--The sinking fund commission will meet on March 27 to receive sealed proposals from old line fire insurance for the re-insurance of 60 per cent of the insurance risks owned by the State.
The general appropriation bill contained a clause providing for insuring all state property in the State insurance sinking fund with the right to distribute the risk by re-insuring 60 per cent in an old line company or companies doing business in South Carolina.
The sinking fund commission with the assistance of the insurance commissioner has drawn up forms giving information about the State property to be re-insured and sent them to the insurance companies.
The commission hopes that the State will be saved a neat sum on its re-insurance premiums by putting up the insurance for competitive bids by fire insurance companies.
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Where did it happen?
Domestic News Details
Primary Location
Columbia, South Carolina
Event Date
March 27
Outcome
the commission hopes that the state will be saved a neat sum on its re-insurance premiums.
Event Details
The sinking fund commission will meet on March 27 to receive sealed proposals from old line fire insurance companies for the re-insurance of 60 per cent of the insurance risks owned by the State. The general appropriation bill provides for insuring all state property in the State insurance sinking fund, with the right to re-insure 60 per cent in companies doing business in South Carolina. The commission, with the assistance of the insurance commissioner, has drawn up forms with information about the State property to be re-insured and sent them to the insurance companies.