The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1895-04-02
A LIVELY INSURANCE WAR.
TO POLICY HOLD.


The Lloyds Get their License from the
State-The Southeast Tariff Ass0-
ciation.Shows Fight and the Lloyds
are Defiant. 4.
Columbia State, March %.
Ever since the Lloyds started busi-
ness In this State, In January last,
there has been a good deal said about
the granting of State ~licensa, and
the people have been having s. good
deal ito say about the matter of their
rates for writing insurance as COM
pared with those of the old line com
papies, members of the Southeastern
Tariff Association. Not only has much
been said about these things, but o
them, and the public is thoroughly ofa-
miliar with the conditions existing up
to the present time.
In regard to the matter Of the grant
ing of the license there were some
pretty interesting developments yes
terday-in fact, the North and South
American Lloyds have at least been
gnrated q license by the State. In re-
gard to the other branch of the matter
the Southeastern Tariff Association
has o fit to p~romulgate and spread
q circular, based on the statement of
the Comptroller's chief clerk, that no
license had been issued to any Lloyds,
which was very true. In consequence
has been written by the representa-
tive Of the Lloyds to the association
inviting immediate prosecution.
Yesterday morning the Attorney
General filed the following 'opinion in
regard to q point which the Comp.
troller wished settled before granting
the license:
COLUMBIA, S. c., March %, 1895.
Hon. James Norton, Comptroller Cen
eral of South Carolina. Colombia,
S. O.:
DEAR SIR: Your references TO me
of the affidavit, of w. S. Montetth, and
copy Of a letter from the Superinten-
dent of Insurance of the State of'New
York.. of date March 18th, 1895, has
ion, "these papers are in compliance
with the laws of this State as to the
prerequisites to your granting license
to transact q fire insurance business
here.
In an opinion furnished you some
time ago to the effect that the South
and North American Lloyds, as an as
sociation of individuals, were subject
to the insurance laws of this State,
and should procure license from you, !
held tnat such an association must
substantially comply with our statutes
before such license could be granted.
One of the statutory requirements is
that they furnish you with the certif-
cate referred to in the affidavit and
letter now submitted to me. 1t seems
fhof INDIAN fhn lo,uo Df Nnu N,NNly
tho "home State" of the South
and North American Lloyds-such an
association of individuals transacting
an insurance business is not subject Il
the State control, and, therefore, the
Superintendent OF Insurance of that
State is unable to furnish such q certi.
ficate.
One object of this State supervising
the insurance business is to protect
her citizens from i~nsolvent or unsafe
companies or associations. By statute,
you are made the Judge of the sol,
vency and safety OF every applicant for
license. AS | understand it, the CHIEF
purpose in requiring q certificate from
the insurance department of the States
where the company OF association was
the question of the solvency and safety
of such applicant, ard this matter is
largely in your discretion.
l am, therefore, of the opinion that,
If you consider the South and North
American Lloyds solvent and safe, and
If they have otherwise substantially
complied with u statutes, Othe mere
absence of q certificate from the insur.
ance department of New York, with
such absence accounted for, would not
debar them from securing license.
Very respectfully yours,
(Signed) VIM. A. BARBER,
Attorney General.
Upon receipt of this the Comptroller
wrote Manager Monteith as follows:
EXECUTIVE DEPARTMENT,
OFFICE OF COMPTROLLER GENERAL,
COLUMBIA, S. O., March %. 1895.
w. s. Monteith, Esq, Agent South
and North American Lloyds, Colum.
bia, S c.:
Dear Sir The enclosed copy of the
opinion of the Attorney General o!
this State explains isjslfa and settles3he
last question in the application OF the
South and North American Lloyds fol-
the license to do business in South
Carolina.
All other papers required by law
having been filed, license fee paid
and financial condition of the associa.
ton being good as shown by their
statement, license will be issued to this
association for the year 3lst March,
1894, to 31st March, 1895.
Respectfully,
JAMES NORTON,
Comptroller General.
Mr.. Monteith also represents the
New YORK and Chicago Lloyds, but