The Indianapolis sentinel. [volume] (Indianapolis, Ind.) 1880-1904, 1885-02-19
INSURANCE LEGISLATION.
A Vigorous ApaIJ sis or Pending Measure
by One Who Understands the Subject

by One Who Understands the Subject
gentleman familiar with insurance mat
ters, though not connected with any COM
pany, was interviewed yesterday concerning
the various measures which have been intro
duoed The present session. He said
IN diana legislators seem 70 be almost
alone IN viewing insurance SIS deadly foe
which ought either to be killed outright or
ut any rate badly damaged. Other State
Assemblies have many insurance measures
pending this Yession, but in none OF them
are there so many bills under consideration
calculated to hurt the companies without
doing anybody under heaven a particle Of
good. Those of.Mr. Bailey and Mr.. Thomp
son in the Senate have already had some
public discufsio and deserve more. They
aim 20 make the policies of all companies
payable in part after one annual premium
has been received. Now, no State in the
Union undertakes to say how tbs policies of
com psnies from other States shall be written,
although every Ststs properly enough die.
tstes how its own OmpRnies shall write
them. Bat f5r Indiana 10 order companies
organized In New York, Connecticut, New
Jersey, Massachusetts, PennsylYanis, Wis.
consin or elsewhere to DO their business diff.
feTentlY here from their methods at hons or
in other States is little short Of absurd. l
will rot notice the prepOsterous idea ex-
pressed IN both these measures" said the
gentleman, making all life policies issued
here non forfeitable in one year. ComDeti-
ton among the companies aided IN some
Cases By their laws at home, puts non.fOrteit-
ure within the reach OF life policy-holders
everywhere. But to demand it AFTER q soil
tsry annual payne ia made, is rushing the
IDEA more rapidly than was sYer before heard
of. A man having had bis house insured
for year might az we'll demand some of his
policy money repaid him, even il the build
ing doesn't burn However, Dill asking
even that to be done wouldn't surprise mo
much.
THE most interesting measure yet pre-.
sented in this or any other legislature
continued the gentleman. 'is the one re-
ported 20 have been introduced By Senator
Addison last week. This orders all the in
s1rance companies to pay 10 per cent of
their gross annual premiums over TO the
State Treasurer. l have not seen thu bill.
and perhaps it is incorrectly reported; but if
thoee are its provisions, I can only wonder
why the originator stopped st bis 10 per
| cent demand. He might IS easily have
| asked for 80 or 80 per cent. or for the whole.
| Just what the State Treasurer is going to do
| in return for this 10 per cent. OF tho policy
holders money is rot announced. OF course,
levy Of that magnitude is practical confis-
| cation. Tax an insurance company in any
method and to any extent, and one OF two
things follow-the company either quits the
| State or il stays and divides the tax among
lis policy-holders, adding pro rata sum OF
| the Whole amount to each policy. Is that
pleasant trick for a legislator to play upon
coDstituent-makiDg him pay Just so much
more for his life or fire insurance. Bat 10
| per cent. call, If that is really asked for, Is
! the largest slice vet demanded. [ am in.
! clined to regard the bill as having been
enormously reported, or else as $ joke"
The gentleman interviewed was asked If
/ the measures he had referred to were all he
| c. uld find to criticise "AllP' he replied;
'Not half There are several specially de.
/ signed 10 arsss the fire companies, but
| will not dwell upon them at this time. Lille
| insurance is a matter that comes home TO
families, to everybody, and ought at least to
! be as sacred from legislative fostering here as
| IN other Sfatsa. But it isn't. There sre two
| bills requir;r the companies to pay any law
| judgments obtained against them, with in
tertst, and 10per cent added for the attorney
on the other side. To be sure, this is not
very hard on the life companies as they are
| seldom sued, but it is no doubt exasnerating
to them to be singled out, with the fire COM
| panies only as companions, for this disiinc.
ton. If an insurance company Is beaten at
law, why must it be obliged to pay not only
| its own lawyers, but the other fellows also?
| Or, IL insurance companies must do this
why not every body else? The bills in aues-
| ton really offer premium to attorneys to
trump up cases against insurance CON-
Another bill, have noticed. requires all
in surance companies to publish their semi
annual statements in every county in the
| State. OF course, this adds Just so much
| ~ ha Mill ka
gain, l admit, 70 the county papers, and so
may be measure likely to pass. But many
of the county papers may be inclined to re-
sent the idea that they are IN need of this or
any other charity. The statements are now
well advertised under the present law, aud
additional spreading of them is useless. But
| II the policy holders do not complain at this
extra expense. probably the company man
| 6gers can stand It.
Besides al these" ssid the gentleman,
there is a bin requiring outside life com.
| panies 10 establish State agencies, bill Civ
ing tra swing to the assessment or grave
| ysrd societies. aud probably others which
can rot call 10 mind Indeed, when q mem
Der isn't feeling frst-rate this session, he
seems to relieve himself by handing in bill
shaking up insurance in some way
The person inteEvie we'd concluded his
pithy observations by remarking that it was
curious that the interests which were in the
closest accord with the public, and concern
ing which no complaint had been received
from any source, shOuld be the ones 10 come
In for such conspicuous legislative badger
Ing. The insurance companies he added
''go Quietly along their way, indemnifying
the people against the ravsges of FIRE aud
death, and accused OF none of the over-reach
ing laid at the doors of other corporations
and vet here in Indiana they are subject "a
persistent and Gncalled for attempts at legis
lative regulation 10 an extent that will, il
continued, eventually drive all the stronges
and best known Of them out OF the State for
ever"
,--,O~r nUr-uE,.n .St,aCr. n ~