Omaha daily bee., 1889-05-13
IOWA INSURANCE COMPANIES.
How Hawkeye People Are Pro-
tected Against Fraud.
A REPUBLICAN, VETERAN CLUB
old Soldiers Organize at Dubuque For
Political Purposes-Tooth Pull
ers Quarreiing-The Con-
ductors' Building.
The Hartford of the West.

DEs MONIES, Ia, May IA Special TO
TnE BEE. Iowa is getting to be quite state
for insurance business. Des Moines has
been called the Hartford of the west, it has
so many insurance companies located here.
But the interest which the Iowa authorities
have taken in protecting the people against
fraudulent insurance companies, has given
them confidence to give good patronage to
companies that are reliable and worthy.
The insurance department of the state audi.
tors office Is not only one of the most i'm.
portant branches of his work, out is also
one of the most important de-
partments of all the public offices
of the state. Its business has grown TO such
proportions that it calls for the undivided at
tention Of several clerks, and the auditor
himself, gives II personal oversight. Audi
tor Lyons has just prepared and given to the
printer his annual report on this subject. II
will be some weeks before the report will be
ready for the public, but, from advance
Sheets some interesting information can be
obtained Since his last report was issued,
he has admitted five fire insurance COM
panies to do business in the state. During
the past year he has revoked the certificate
of but one company, which speaks well for
the good character of the business they
are doing. There are twenty-seven life CON-
pauies, TWO O1 WHICH 40 uCCluenu business
also. and one that does an exclusively acci-
dent business in the state. or this number
four are Iowa companies, one joint stock
company and three mutual. During 1888
there were thirty-one mutual benefit asso-
Citations doing business in the state, and of
this number eighteen were Iowa associations.
Since January 1, 1889, thirty companies have
been granted certificates. There
are now ia fire insurance companies
authorized to do business In this state,
seventeen of which are Iowa companies.
There are ii mutual, fire and tornado asso-
Citations operating in the state under special
provision of the code. There are at present
twenty nine distinctive life companies au
thorized to do business in the state. The
auditor makes some special Recommendations
with reference to what are known as ''fra-
ternap' associations, that do an insurance
business. On the theory that these frater-
nails were organized for social rather than
business purposes, they have enjoyed an ex-
emption from the supervision, which other
associations have had. Some of these frater-
nal associations, like the order Of railroad
conductors, Masonic Benevolent association,
ETC., ETC., have voluntarily reported to the in
surance department the results of their iu-
surance work. But the auditor intimates
that there is a host of snide companies that,
under the guise of being benevolent aud
fraternal society, really carry on an insur-
ance business subject to no legal control,
and quite disposed to swindle the unfor-
tunates that are duped by them. So he
recommends that the law be amended SO as
to require all associations organized unde4
the laws of the state to make reports to tile
insurance department, and be subject to ex-
animation by it, the same as other assess
ment associations are. And also that the
same requirements be exacted of all such
fraternal societies that may be organized in
other states but do business in this state.