Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-12-22
INSURANCE LAWS
Conference Over Bill Proposed by Attorney
Thomas for Enactment.
Provisions of the Measure-COmpanf es
Must File Charters and Brokers'
Must Obtain Licenses,

There was a conference yesterday after
noon between Commissioner Wight, AS
SCISSOR Trimble, Mr.. 8. T. Thomas, the at
torney for the District, and Messrs R. W.
Tyler and F. H. Smith, the last two named
representing the Fire Underwriters Asso-
citation, the subject of the conference be-
Ing the bill prepared by Mr.. Thomas to
regulate the insurance business in the Dis
trict. The proposed measure was discuss
ed at some length, and a further conference
will be had on the matter.
AS prepared. the bill provides for the es-
adjustment of a division of insurance in
the office Of the assessor, that official to act
as insurance commissioner for the District.
He is to have an assistant at salary of
S2,5O0 per annum, and two clerks at SAL
aries Of $500 and 81 900, respectively The
assessor will be required to see that all in
surance laws are enforced, and will keep on
hle copies of charters, declaration of
ganlzatlon, or articles of corporation of
every insurance company of any kind do
ing business in the District. Annual state
ments must be made by the companies on
blanks furnished by the assessor. no fire
insurance companies except mutual COM
pdaies organized in the District of Column
ola under special act CT Congress, or the
general laws Of the District having a paid
up capital of less than $lG0,OUU shall be per-
mItted TO do business therein, and all COM
panies will be required to maintain REIN
surance reserve fund equal 10 that required
of companies doing business in New York.
The assessor is empowered to make official
exanlina lion into the affairs of any insur-
ance company organized under the laws of
the District of Columbia, at his discretion.
He shall also suspend the license of any
company which shall become insolvent or
impaired to the extent of % per cent of its
capital stock.
The Brokers.
The bill also provides that insurance
brokers must take out a license to do bust
ness. the licenses to cost 800 per annum
each. No person, firm or corporation shall
allow pay any commissions, rebate or
compensation. directly or Indirectly, for or
in behalf of any person, firm or corporation
net licensed insurance broker or
solicitor. The penalty for violating this
section is not less than $500 or more than
500 on conviction in Police Court. Fees for
liling declarations Of organization and char
tiers are fixed and all companies organized
outside and doing business in the District
shall pay to the collector CT taxes a tax of
Per cent of its gross premiums on bust
ness transacted within the District pay
mentS to be made or before March l
each year, which shall be in full for all
taxes except license fees. Provision is made
for an appropriation for sum of money
necessary 10 carry the act into effect. The
the month next succeeding its passage.
Every company desiring TO engage il
business in the District in case the bill be-
comes a law, shall file copy Of its charter
with the assessor, with certificate that it
is entitled to do business here; appoint An
attorney resident III the District upon whom
legal process may be served, and furnish
to the assessor annual statement of its
business and all information requested.
Further Purpose OF the Bill.
The bill will also provide that not only
shall all insurance brokers pay a license
of 500 year, but also all companies,
agents and solicitors. the object being to
drive out of the District or business all If
responsible companies, agents, brokers and
solicitors. The measure was prepared by
Mr.. Thomas upon the lines of the best
examples of insurance laws elsewhere, and
with the assistance of committee from
the Underwriters Association. 1t is also
proposed that the enforcement of the bill
will entail no expense on the general or
District governments, as it is intended that
all expenses shall be paid out of the license
and Otner resulting fees.