The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-02-04
Obiectionable insurance Measures.

To the Editor of the Indianapolis journal:
Besides his now noted, or notorious, measure
demanding that dram shops be allowed 70
do business on Sundays and holidays, Senator
Bailey is the father Of several other very peculiar
bills this session. Two of these are aimed at
the insurance organizations, one in the form Ut
a proposition that the life companies shall not be
allowed to forfeit policies after a years premium
has been paid; the other requiring both the life
and fire companies. if defeated in any suit at
law on a policy, to pay the full amount due,
with legal interest and 10 per cent. extra.
The last named measure would be whimsical in
Its absufdfty were it not so inyidicus II picks
out insurance companies among All the organi-
cations doing business in Indiana and saws that
they alone, for some unexplained reason, IL
beaten when suedin law court, shall practically
be fined for having dared defend themselves IL
gives the parties bringing the suit the added in
centive of being sure of having their lawyers
we'll paid if they win. Such law applied to all
defendants would be grotesque and bad
enough, but when directed against sin
gle interests and those SO necessary to the
public and so satisfactory in their dealings with
everybody as insurance companies, it becomes
utterly illogical and ridiculous.
Mr. BaHeyS other measure, leveled at the
life companies, would compel them to pay pro
portion of the policy to the member who had
contributed but one years premium This
rather outdoes any previous essays at legally
backing up the party who breaks contract and
making the other side stand the loss Cornpe-
tition among tho life companies has led
in many instances to the adoption
OF certain nonforfetable rules after two or three
annual payments have been made; but to white
the time down to one year, is thinning the idea
to an unprecedented and impracticabe degree
Perhaps Mr. Bailey will next ask the life COM
panies TO pay money to people who haven't
turned in any annual premiums at alll meas
ure like that would be universally popular and
would result. during the brief time the COM
panies could live through it, in something hand
some coming to everybody, including legislators.
A decent regard, however, for the courtesies
of business, by which interests so thoroughly
essential TO the public as those Of
insurance are imperiled, would suggest it WIS
about time, In so progressive State sts
Indiana, to cease hauling in measures before the
Legislature calculated only to poster the com.
panies without any show expectation of their
passing The State has comprehensive and
thorough insurance code, administered by an
alert and competent insurance department.
With these added to the confidence and good
will Of the public toward the companies, as
evinced by plenty of patronage and no COM
plants, there is little need of badgering them
with new legislation. Other States do not go on
piling up unnecessary and injurious insurance
laws, and Indiana is not likely to either. Such
measures as Mr.. Bailey's are not demanded, and
it is consoling to know are rot going to be en-
acted.