Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1873-01-31
TIE ASSURANCE Id ".

10 the E0tt0r OF tie henne6ec JCaTndl:
We hope the Committee on Mercantile At,
fairs and Insurance will thoroughly and fully
consider the insurance law, and have its de-
fects remedied. The State of Maine should,
like Massachusetts,, have upon its statute
book as nearly model law as possible, and
not such a lone sided affair" as at present,
discriminating against outside companies. 1t
is Il notorious fact that the Maine insurance law
is regarded ia insurance circles as one of the
most unjust and Liberal of any in the coun-
try. Il is not mere ill-iounded prejudice,
but carefully considered and justifable de-
cision. Maine has but few stock companies
of its own, and must depend largely upon
companies outside the State for insurance
business, and it is for tie best interests Of the
people themselves to deal fairly and literally
with companies doing their insurance bust
ness Recently several leading New York
companies and several agents there repre-.
senting foreign companies met and agreed to
withdraw from Maine on the LIST of January,
because of these very reasons. 1t would
community; but the Boston fire came. and
the matter has been postponed.
Home insurance has proved to be most
foolish and unwse policy, as evidenced by
the Portland, Chicago and Boston fires, and
therefore good outside companies deserve
most hearty encouragement and support.
There are two sides to a story, and all the
talk against insurance companies is mainly,
''buncombe." 1t only requires personal
knowledge of insurance business to cure the
most bigoted and severest critic of this whole
sale delusion. To be sure, there are unjust
companies, the same as unjust policy holders.
"The moral hazard" is to be sharply looked
after, the more so than the people at large
are aware. Do justice to insurance compa-
MES, though the heavens fall. We venture
the assertion that good companies with good
agents and honest policy holders never will
have the least trouble, and all will be salts
| fed.
! We throw out these suggestions, knowing
that insurance companies are more sinned
against than SHINING, and that Maine, of all
States, ought to deal literally with them. Let
section 10 be repealed, or be amended. 1t is
a disgrace upon the good name of the State.
It destroys the validity of contracts, and
opens the door to fraud and trouble on the
part of the insured. Section 20 (the closing
part) is also unjust, and ought to be repealed.
Section 63 might also be amended somewhat,
so as to allow companies more favorable
show.
We arc glad to learn that bill is pending
in the legislature, providing for the investi-
CATION of the origin of fires by special jury,
when the cause is not evident, the jury to be
summoned at the instance of the municipal
authorities, Immediately after the fire occurs.
The object is the prevention of fires. This is
a move in the right direction, and we hope
the insurance committee will report several
more measures equally as just and righteous,
and that the legislature will cordially and
promptly enact said measures, and make the
law what it should be-just to all parties, the
insurer and the insured Maine ought to
have as good law as any other State, and
we doubt not but when the members of the
legislature fully comprehend the situation,
they will see that the defects in the law are
fully removed, and that Maine is truly the
Drigo State in this respect, and not to-day
so far behind other Commonwealth. In the
newspaper abstracts of the General Insurance
Bill, now pending in the Senate, we observe
that in case of any "Maine" company which,
upon notice by the Commissioner to repair its
capital. does not do so in three months shall be
"enjoined" from doing business, but that any
"foregn" company, under like circumstances,
'shall no longer be permitted to do business
in this State" Is there any reason why the
one should be "enjoined" and the other for
hidden thereafter to do business in the State
Is there not cat in this meal? Possibly it
may be clear in the original bill. We hope
so in all conscience and justice sake.
Again we say, let us have a fair, upright and
impartial law, and not any botch work or I'M
Just statute JUSTICE.