St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-07-16
NEW INSURANCE LAW.
Commissioners Smith Makes Reg
guIatiOns for Enforcing 1t.

SuiathOnS fOr Enforcing 1t.
State Insurance Commissioner
Smith is sending out copies of the new
Minnesota standard policy to all COM
panies doing business in this state.
After Oct. l, when the new law goes
into effect, all companies will be ex-
pected to use this form and no other
The insurance commissioner has is
sued in addition circular giving
briefly the important matters that NAV
be attached to the policy. This is
done for the convenience of the pub
lie as we'll as for the companies, as
the law is too long to be published.
The circular reads:
Sec. SO. No fire insurance comDanv
shall issue fire insurance policies on
property In this tate other. than those
or the standard form herein set forth.
except as follows to wit:
f!rSt-A company may print on or
IN It's policies its name, location and
GATE OF incorporation, the amount of
its paid-up capital stock, the names of
us ofhcers and agents, the number and
cate OF the policy, and, if it is issued
through an agent, the. words This
policy shall not be valid until counter
signed by the duly authorized agent of
the company"
Second-A company may print or use
scrlpt1on and specification of the prop
erty insured
Thlrd-A company ipsuring against
damage by lightning may print, in the
clause enumerating the perils insured
against, the additional words. "also
enSues or not" and in the clause pro-
v1ding for an apportionment of loss in
case of other insurance, the words
whether by fire, lightning or both"
Fourth-A company incorporated or
formed in this state may print in it's pol
icies any provisions which it is author
lied or required by law to insert there
In; and any company not incorporated
or formed in this state may, with the
approval of the insurance commission
err so print any provision required by
its charter or deed of settlement, or by
the laws of it's own state or country,
not contrary to the laws of this state,
provided that the insurance commits
sioner shall require any provision
which, in his opinion, modifes the
contract of insurance in such a way as
to affect the question of loss, to be ap-
pended to the policy by a slip or
rider, as hereinafter provided
F'ifth-The blanks in said standard
form may be filed in print or in writ
ing
Sixth-A company may print upon
policies issued in compliance with the
preceding provisions of this section the
words. Minnesota Standard Policy"
Seventh-A corporation may write
upon the margin or across the face of
the policy, or write, or print in type
not smaller than long primer upon
separate slips or riders to be attached
thereto, provisions adding to or mod
flying those contained in the standard
form; provided, that no provision shall
be attached to or included in said policy
limiting the amount to be paid in case
hlli tn
the amount of insurance on the same,
and all such slips, riders and provi-
sions must be signed by the officers
of agent of the company so using
them.
The said standard form of policy
shall be plainly printed, and no por-
ton thereof shall be in type smaller
than long primer.
Section So provides that when two or
more companies each having previ-
ously complied with the laws of this
state) unite to issue a joint policy,
there may be expressed in the heading
of such policy the fact of the severalty
of the contract; also the proportion of
premium to be paid to each company,
and the proportion of liability which
each company agrees ia assume. And
in the printed conditions of such pol
icy the necessary changes may be
made from the singular to the plural
number when reference is had to the
companies issuing such policy.
The new insurance code, which con-
tains the new standard policy form,
goes into effect Oct. l, 1895, at u O'Clock
noon. After that date there is a PEN
atty of from $50 to 5000 for each policy
issued other than the standard form
English companies are allowed to
insert a clause providing that the di-
rectors or stockholders cannot be sued
individually or collectively on losses,
but that suit must be against the COM
pany. This clause is contained in the
charters granted the companies at
home and is unimportant here because
there is no record of suit ever having
been brought against the directors or
stockholders as such.