The Brazosport Facts from Freeport, Texas on December 5, 1971 · Page 19
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The Brazosport Facts from Freeport, Texas · Page 19

Freeport, Texas
Issue Date:
Sunday, December 5, 1971
Page 19
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in DAUA»~A spokesman for the. property Insurance Industry uld here today thai "not MM «Sm« of print" *W . <vcr be «*rn«l by insurance operation of the catastrophe insurance pool created, wjlh llM i support of (he toduttry, by tlw «m T«a» l^aiUture, Oran P, Needham, chairman of U* temporary board of directors. Tex»» Catastrophe Properly Insurance Association CTCT1A), Mid that eharf«s h*¥« been made by tome legislator* and others th»t the Industry '!• > miking HhortntMl profit* from ih« pool'* openUom, "Nothing could be further from the truth," he said. "The proposed rule* governing the operation of Ihe pool-developed by Insurance industry representative* thai matte up the temporary board of directofs-pnovWe (hat aU to-called profit* be placed In a rauitropb* reserve lobe used in the event of future storms such a* Hurricane Cella, Not one dime of profit will Accrue to any inwramrc company.*' The rule* must be confirm**! by «l| p«rtidp4ting tttwiontx companies at (lie ftr*t TCJ'tA annual mwrttng (>«•. v and. *ub*«<fucn<iy, by the Tew* Stale Board of bMuranc*. N'mlhant wat responding to AMUSEMENT GUIDE VELASCO Jr«OJrr O'NritJ "•M*r it l)w SPECIAL MATINEE SUN., DEC, 5th 1:00 & 3:10 IMO4IMQ several charge* leveled against the pool by leglalatort ami aome Iwurance agenu. Aa a rawlt of the ullegalioru, the Texaa State Board of Insurance hai called a public tearing In AuMln for Monday, Dec. 8 to review all at pecU of the TCPIA operattoni. "The buuranoe Industry la (he firtt to admit that thin pool'* formation waa neceultated because tome wiurance companiet were not writing (heir fair thare of (he remgniud high H*k builnm along the Texaa Gulf Coast," the TCPIA tpoketman tafd. "Therrfore, *ome of the cwnprnk* litre, writlns a dwpfvportkwuite ihare of the overall bunom In thk norm- j»ww area. When Hurt-tear* Cetta «n»ck in WO. producing •owe «^W intllkjn in (mured lotfcw, the compantet « Ito had wtttlm IwKer than their tnare <at bu»tn«-»» experienced disproportionately higb k«,*e» aosl they nude the *tjond bttiiiMttt deeittao to cut U»d» on (heir bu>tiw« m the liigh ri«k, ftuwal arw In many caws, (»;*»« cutl»»ek» fag, insurance industry says lott of calatlrophe »u<«J that the Bourautf i«lu»tr) ttrx^ru<«J ihf problem rxittrd and tMppudn) k«MUuv« action to nralr * f"J fattlily Out would make certain that all companies atlumed ihelr proper ihare of the balnea along (he Gulf .Coast The icglifatfcm creating the, pool and the TCPIA wu paaied and the Utility open for buiinett on June I, 1971, The TCPIA spokesman reported that, In the first four month* of operation ending Sept. 30, 7,W windstorm policies have been issued, with a total liability of IITS.OM^OO. Premium volume for thews policies totals li,597,SJJ, Needham estimated that, by Die end of 1971, the pod will have written policies totaling some wso million In liability and that premium volume will total about » million, "This may sound like a lot of business," Needham commented. "and some might believe that all Gulf Coast windstorm insurance it now being written by TCPIA. However, the facility wu created with prwUety the iVjjouie ob^dive. We wanted u> make voluntary wriUng of tu*ineMi w the nontiaJ market »«r*e«ve« and we built in an incentive to do to. "To *implif)' a my detailed formula," Needbam "mrti omipany lor turning the jft- <W the roattal M thc>- wnie on a tUtr»i<k> Luui and U>r> arc i» taint 35X)00 robofs by 7980, Dow researcher says POH MIS PISTOLAS tW)C'U)KH. C«4« (API ~ Tbr t,'nit«J S«4t» will have a robot population o( about tt,W£»% !«". U»t lr« i( any ol tbctn » ill br «bk in coropttr mlh u><«tr httnun tn*it«f» u (>«-) da m K>ttic« wovtr», u)i a fvwifxtxT hrrr at UK Uow Clwrmic*! Co .'• nuclear *r«i inttcif retool t«c thrw yean lor in piutowum tundliftd )«tM at tbr rial* pUnt. lor arc AT »:*» KVfJS UK -NfTK In cvrrvwKY life there\ a SUMMER OF'42 I H«»Wrf l'r«M STAHTTS WKD In octM«>c\ life thcnrV a SUMMER OF '42 WKKKPAYS a4 »:ll A 1:11 NATIONAL REVIEW THf QKLV THINGS CHEAPER THAN UFI "Ttxmr are cl»e to 700 ruboU in \of in Lhu country din," tw ukJ, noting moct handle on))' wmpJt tn&mriai AjiK-mbJ)- bar )oti* that arc tew bc*\-). dangerous or boring (or bumani TV IWj ctUmate. be Mkd, u * general for«ca*t by the rompa«« which build ibetn. •Tbxrj' c*n Hand in Iront ol a hot furnace or a pr-cn, k»dmg or unloading something. KXnctimes raorr cffkfer'Sy, accurately and ufdy tht: a m*n. uid Iw-VdMT He wx) a robot defers from a tlmpic puce ol automated RUdurxT)- in that tl can be program mrd to perform dillcrttu Usk* rather than only coe (unciioet Programming is done. Bckher »iic<l, by manually rooving the robot's arms through the function to br pertorm«d. The motions arc recorded and tlorvd by the robot'i computer. CurrwiU), fmr robots m UK erct> (auitly r«*«mble tbeir cmaton Most ha\t only one arm. no left, and no heads on Ihetr shoulders, says the engineer. And most are big and immobile 'Trx- biggeai drawback is that they arc blind." u>d Bckhrr. although he added Stanford I'nivern!) has built a robot lor moon eiptoraUons that can SM> with television camera eyes and make urn pie decisions about range and pociiKm with its computer "But no robots made now r*n make fast decisions like men, There aren't any robots like in Ihe television series because the) 1 are not really needed in industry"And I don't think it's going to be anytime In the near future that robots are going to be <b)e to think like men." he added "Right now Ihe robot in dustry is growing, and growing rapidly," he said. "It's going (o continue that way as robot* lake over more of the jobs that nobody wants to do." 1/ELHSCO LVvt ••KKI-'I ALL SEATS Ho One I'ndrr II ENDS TVE. THE HELLSTROM CHRONICLE given credit for bualneaa written on a voluntary ba>U In Ihe high rlak, 14-county cauuirophe area, "In effect, a company can write a tuffldent amount of windstorm Insurance In the coastal area-on s voluntary basis-to make certain that they have no pool participation. For example,. over half ofthe top 10 writers of property Insurance In Texas have written a sufficient amount ol voluntary busfnen in the catastrophe area to meet the requirement—and they are not participating." The insurance spokesman calied a Uention to the fact that much of the businas being placed through TCPIA is "limply high risk, beachfront property, virtually guaranteed (o produce perwxltc losses from storms." He noted that, at an average premium volume of t3-4 million per year, it would take Die TCPIA "over 50 years to accumulate sufficient rautucfphe re*ervet Just to pay the windstorm claims rnulUng train a storm like C«iia. atxJ that doesn't account for expenditures lor expense* mch as agent's , etc and routine annual claims such as those resulting from Hurricane Fern this year," "Some agents, as well as members of the general public and their legislative representatives have complained about the coverage offered In the windstorm pool policy," Needham noted. "We do not cover such things as fences, awnings, swimming pool covers, etc. We would point out that this insurance policy is precisely (he same as the windstorm endorsement available In all other Gulf Coast states from Louisiana to Florida, It is a basic coverage policy only, offering no frills, especially designed to offer appropriate coverage for extremely high risk areas. It will be a money lour for the industry. "Many of these matters have been discussed in the public press over the past several months," Netdham taid, "and we must assume the responsibility for a lack of effective communications from the industry. "We simply have not reported to the consuming public, nor to much of our own personnel for that matter. concerning the operation* of the TCP!A. We have just bean too busy with the beginnings of the operations themselves, on a day-unlay basis—but we are Implementing a communications effort to remedy this. "We would also call on state legislators, as well as local governmental officials and local Insurance agents in the. 14-county seacoast area to begin a real push for the enactment of effective, adequate building codes," Needham continued. He pointed out that the legislature called for the development of a "suggested building code" for the Gulf Coast areas and that a code was recommended by the TCPIA temporary board of directors, approved by the Texas Slate Board of Insurance, and will be distributed throughout the catastrophe area. "This means that, shortly after Jan. 1, 1972, new construction in the catastrophe areas must meet the standards of that code In order to be eligible for a TCPIA policy," Needharn said. "This code, il adopted and followed, will rtwrft In ma* more,adequate, InaaraMe, wind resistant property along our coast—resulting In • ntoM favorable market condition." HAPPINESS IS ... WARMTH Mt warank Imn a UUere4 •tytb«t«gl<al Ma*ket t«eb ai Lfant carrlet. We iee4 real humaiHo-himan, heart-4*. heart w»rraOi. It aocM'l come eaiUy. In fact, far many H'l 4iflloil( to be warm an4 tM warnth. Bui. aren't we all Voicing? ..Why not try iw-we are warmth It. Eugene Cragg PaM«r Aielea at Yovfam, take Jack«m WORSHIP SERVICES :M A.M. SUNDAY 8CIIOOL »:IS A.M. VISIT OUR NE W DEPAR TMENT! IN TIME FOR CHRISTMAS OLD FASHIONED CANDYSHOPPE Gtorgt Kau 0/$ployj Candfos Af Colonial Shop See Our Wide Array Of 'Old Fashioned Candies! Hudeck Bros. FURNITURE CO. COLONIAL SHOP

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