INSURANCE: What Price Competition?

Fire-insurance companies were caught in a cross fire last week: in front attacked by Thurman Arnold's trustbusters; in the rear harried by the oldest and third largest of their own number, Insurance Company of North America. From both directions the charge was the same: that insurance rates are too high.

Last week in the nation's insurance center, Hartford, the big stock companies were keeping their powder dry. Pointing to a 36% reduction in average fire rates during the past 20 years, and untold millions spent for inspection services and education in fire prevention,...

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