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Archive for Monday, May 9, 2011

40 years ago: Events of 1970 cause jump in local insurance rates

May 9, 2011

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From the Lawrence Daily Journal-World for May 9, 1971:

On the eve of the one-year anniversary of the million-dollar fire at the Kansas Union, Lawrence residents were still feeling the burn. The company holding the insurance policy on the union at the time of the fire had subsequently filed five volumes of testimony to federal agents to prove that the fire had occurred during, and as a result of, acts of civil disorder. After the federal agencies had agreed with this assessment, the federal government had paid part of the claim. However, the remainder had come from state funds, and the state was planning to assess the insurance companies in Kansas, which would then pass on the cost to policy holders. In addition, when insurance rates for the Lawrence school district had come up for renewal in 1970 shortly after a spate of racial troubles at Lawrence High School, the premium had risen from $20,000 to $56,000, and the deductible from $100 to $10,000.

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