Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1867-04-19
eLEe1sLATIoN ON INsURANcr.-Manv


the States having INDUCED in what has
been termed unfriendiy legislation on the
subjectsof Insurance, we are gratified to be
able to chronicle the passage of the follow
ing act by the General Assembly of the
State of New York, at its present session
authorizing the T'rouelers Insurance Connpana
of Hartford, Conn.,, to transact its combined
Life and accident business. The following
is copy of the bill:
AN Act to authorize the TRAVELLERS IN
SURANCE COMPANY, to effect Insurance
Upon the Lives of individuals. Passed
April 8, 1867. s-,fo-l,7 -a4irG
The People of the State of Neso York. rep-
resented in Senate and Assembly do enac,
SECTION l., The Travellers Insurance
Company, a corporation organized under
the laws of the State of Conneeticut, and
having its principal office at Hartford, liz
said State, after having furnished satisfac-
tory proof to the Superintendent of the In.
suranee Department. of this State that said
Company has paid up cash capital of five
hundred thousand dollars, securely invest
ed, and after, having coupled with the
vide for the Incorporation of life and health
insurance companies and in relation tc
agencies of such companies passed june
twenty-fourth. eighteen hundred and fifty
threes aud the several daets amendatory
thereto, so far as the same are not inconsis-
tent with the powers hereinafter granted
is hereby authorized and shall have power
through its agents in this State TO make
Insurance upon the lives of individuals
and every insurance appertaining thereto OF
connected Herewith in the same manner
and upon the same conditions as life insur-
ance companies are authorized to do under
the statutes of this State, and to grant
purchase, or dispose of annuities: prouided
however, that said Travellers Insurance
Company is hereby prohibited from engag-
ing in any other kind of insurance than in
the insurance OF individuals against death
and against disability from accidents
And, provided, that no. agent of said Com
pany in this State shall be required to take
or have at any one time more than one
certificate of authority from each Super
intendent of the Insurance Department. /
Sec. 2. This act shall take effect imme-
diately.
STATE OF NEW YORK.
Office Of the Secretary of States
have compared the preceding with the
original law on file in this Office, and do
hereby certify that the same is correct
transcript therefrom, and of the whole of
said original law.
Given under my hand and seal of office, at
the City of Albany, this 9Th day of April,
in the year one thousand eight hundred
3 and sixty-seven. LOO u
Tt's ERAsTUs CLARK,
--5. Deputy, Secretary of State.
The passage of this bill is alike credita-
BILE to the General Assembly, and compli-
mentary to the Company, whose business
Is becoming so universally popular The
Legislature of Ohio has also recognized the
Importance of the combined Life and Ac-
ctdents Insurance Policy, as issued by the
TRAVELLERS INSURANCE CO. OF HARTFORD
by embodying this system of Insurance
into the bill just passed regulating Life ane
Life and Accident Insurance Companie.
within this State. The Travellers Insur-
Vance Company of Hartford, we are in
formed, has written nearly Fifteen Hun.
dred Policies in its Life department in tn,
short space of nine months, and abou
$4,000 General Accident Policies within tn,
past three years. The Company has pait
over six thousand losses. amounting to ovel
one half million of dollars, and has paic
over fifty thousand dollars to its policy
holders in the State of Ohio Tanr10-d1t