THE RUMSON CLUB, RED BANK, NEW JERSEY A Good Example of Semi-Fireproof Construction. Walls Are of Natco Hollow Tile on Concrete Foundation. Upper Floors Are Wood. Courtesy National Fireproofing Company, Pittsburgh part of the policy, as well as in all other parts, the good intent goes a long way toward smoothing out all difficulties. The details need simply to be expressly followed and if followed no trouble will result. It is evident, of course, that to carry out the provisions of the policy the insured should have fortified himself previously by keeping a good set of books. It is still too frequently the practice to keep accounts in an indifferent manner, and while gains are being made all over the country in that respect, outside of the larger cities the entire process of bookkeeping or accountancy leaves very much to be desired. Many a settlement is delayed for an undue length of time solely owing to the fact that where the property is destroyed and the books must be depended upon for settlement, they are not in such condition as to furnish a ready help in the solution of the problem, but must be carefully gone over, and practically a set of books made up from such data as may be available. Report of Loss by Insured. With this brief comment on the items, the lines in question are quoted in full. Lines 67 to 80 are as follows: If fire occur, the insured shall give immediate notice of any loss thereby in writing to this company, protect the property from further damage, forthwith separate the damaged and undamaged personal property, put it in the best possible order, make a complete inventory of the same, stating the quantity and cost of each article and the amount claimed thereon; and, within sixty days after the fire, unless such time is extended in writing by this company, shall render a statement to this company, signed and sworn to by insured, stating the knowledge and belief of the insured as to the time and origin of the fire; the interest of the insured and of all others in the property; the cash value of each item thereof and the amount of loss thereon; all encumbrances thereon; all other insurance, whether valid or not, covering any of said property; and a copy of all the descriptions and schedules in all policies; any changes in the title, use, occupation, location, possession, or exposures of said property since the issuing of this policy; by whom and for what purpose any building herein described and the several parts thereof were occupied at the time of fire; and shall furnish, if required, verified plans and specifications of any building, fixtures, or machinery destroyed or damaged; and shall also, if required, furnish a certificate of the magistrate or notary public (not interested in the claim as a creditor or otherwise, nor related to the insured) living nearest the place of fire, stating that he has examined the circumstances and believes the insured has honestly sustained loss to the amount that such magistrate or notary public shall certify. Lines 81 to 85 read as follows: The insured, as often as required, shall exhibit to any person designated by this company all that remains of any property herein described, and submit to examinations under oath by any person named by this company, and subscribe the same; and, as often as required, shall produce for examination all books of account, bills, invoices, and other vouchers, or certified copies thereof, if originals be lost, at such reasonable place as may be designated by this company or its representatives, and shall permit extracts and copies thereof to be made. Inspection of Property, Books, etc. These lines continue directions in loss settlements or rather set forth further steps that may be taken in reaching a settlement. They provide for the fact that the insured shall show to any person appointed by the company all that remains of the property described, that he shall submit to an examination under oath by any person named by the company and to the testimony thus secured shall subscribe. The lines furthermore provide that he shall produce for examination as often as is required all books of accounts, bills, etc., and if the originals be lost copies are to be furnished. These copies are to be furnished at such reasonable place as may be designated by the company and from these extracts and copies thereof may be made. Lines 86 to 91 in full read as follows: In the event of disagreement as to the amount of loss the same shall, as above provided, be ascertained by two competent and disinterested appraisers, the insured and this company each selecting one, and the two so chosen shall first select a competent and disinterested umpire; the appraisers together shall then estimate and appraise the loss, stating separately sound value and damage, and, failing to agree, shall submit their differences to the umpire; and the award in writing of any two shall determine the amount of such loss; the parties thereto shall pay the appraiser respectively selected by them and shall bear equally the expenses of the appraisal and umpire. Settlement of Loss. These lines provide for a method of settlement of loss in the event of there being a disagreement between the insured and the company. It will sometimes happen that an agreement as to the settlement can not be reached without going to court. But previous to doing that it may be possible to reach an agreement by means of appraisers appointed by each party. Previous to the adoption of the standard policy, while there was provision for appraisers, the manner of choosing the umpire was always left in doubt, the question being whether the umpire should be chosen before the appraisers had commenced their work or after they had finished. The standard policy provides that each party may appoint an appraiser and these two shall then immediately select a third party as umpire. It then becomes the duty of the appraisers to estimate and appraise the loss and, in the event of their disagreement, the matter shall be submitted to the umpire, but unless the appraisers disagree, the umpire is not called upon to act. The award in writing of any two of the parties shall determine the amount of such loss. The lines further provide for the method of paying the appraisers, which is by the respective parties, while the expense of the appraisal and umpire is divided equally between the insured and the insurer. Line 92 and a part of line 93 deal with the important question of waiver, and read as follows: This company shall not be held to have waived any provision or condition of this policy or any forfeiture thereof by any requirement, act, or proceeding on its part relating to the appraisal or to any examination herein provided for. Waiver. This probably has been one of the most fruitful sources of strife in connection with the standard policy. Not fruitful, because it is mentioned in the standard policy; it is, as a matter of fact, a very old provision, but because a number of questions that have arisen as to the company having waived some right have been a very frequent subject of dispute. On general principles the company should be careful that its representatives do not make any overt act or any act which seemingly implies that they are liable for the loss, if any doubt whatever exists in regard to the matter. Very slight actions have been considered as acknowledgments of a loss. when such was not intended by the company in connection with the action taken. The remainder of lines 93, 94, and 95 reads: And the loss shall not become payable until sixty days after the notice, ascertainment, estimate, and satisfactory proof of the loss herein required have been received by |