The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-01-15
AN INSURANCE BOARD
The Kind of Men to Put in
Charge.
WISE, UNBIASED, TRUE
NECESSARY FOR PROTECTION OF
TUE PEOPLE.
METHODS OF DIFFERENT COMPANIES
These Should be Known by the Peep'e, Oh
tanned by Verified Reports to Sea d Nom
inal Tax Suggested for Incorporated
Beneficial Associations.


To the Editor: In your Saturdays is
sue appears an able and very sensible
article from the pen OF Mr.. John G.
Drewry relating to the education of the
people upon matters of insurance and the
proper regulation or management of an
Insurance department. in this State.
! agree with him lin the opinion that
this should be a separate department,
ana not mixed or entangled with other
matters thar will cause this important
business to suffer on account OF n want
of due and full consideration. | think
the two branches of Insurance, fire and
life alone, not to speak of accident ana
other forms, constitute the largest bust
ness in this State; and ] think | can
safely say that those who invest III these
enterprises know less about the intri
cacieS of the business than any other
business they invest in.
To undertake to educate the masses
upon all the different lines of life insur-
ancc would be gigantic undertaking
now. So complicated has this become
that very few of those engaged in it are
as well informed rs they ought to
he There has been so many systems
evolved and so many new forms of policy
adopted so rs to "catch the business.
that the person insuring generally does
and thinks whatever the canyasser tells
him. He knows nothing about it, and
has not time TO learn One agent tells
him one thing and another another
thing until his mind becomes confusion
= 4 i, H..
pie end to demand that every dollar
paid out to any one or for any purpose
shall be made to count in their behalf
for every cent which it contains" is the
true shibbolcth as is well stated by tbs
article of Mr.. Drewry. But who is to
decide These delicate and intricate ques-
tions? Evidently the most interested
ones. The people cannot. for they are
not familiar with the subject. It be-
comes therefore necessary to place this
matter in proper hands. Are you going
10 put men in charge of this department
who know nothing whatever about insrlr-
anc? 70 do this would be folly. Are
YOU going To put men in charge who are
welded to one form or one system Of i'll
Surance. To do this means 4 nlononuly
to some and death to others. "Wat
To the knife and the knife to the hilt."
VIII he the motto Of those who get the
npper-hand if this policy prevails, and.
who shall restrain them.
Put this department iii the hands Of
men who are able to discern what con
stitutes safe and reliable insurance.
without regard to any particlar form Of
policy. and that are unbiased i'll favor OF
or against. any system that offers q
proper business contract, and let them
~ pnt mi Iti1et taCg
methods employed whether such COM
pany, association or order shall do bust
ness in this State.
10 do this will require reports. properly
verified. from, not only insurance com
panics, but all the Incorporated beneficial
orders now doing business in the State.
This is proper and right. The beneficial
orders who are simply collecting their
mortuary and revenue fund.- with but lit
lie or nothing for expenses. need not be
taxed like the other companies; but they
should be willing to let the people know.
by their own statements. how they stand
and what they are doing. To give a
more definite idea of my meaning | will
quote a section of IL bill now pending in
the LEGISLATURE of Alabama:
Section 10 of said bill reads as follows:
BE it further enacted. that the terms
OF TINS act snail not be construed To APP
ply to fraternal organizations paying
benefits to its members and doing bush
ness on the lodge assessment system.
provided such frnternal organizations
shall be required TO make sworn state
mint to the Insurance Commissioner.
containing such information as may be
required by him. on the date fixed by law
for similar reports Nv life insurance
commands on such blanks us shall be
prescribed by the Insurance Commits
soner Provided further. that no license
fee or tax shall be required from said
fra ternal organization"
J am not in favor Of the full exemp-
ton from taxes of these organizations.
for by this means fraudulent orders may
come in as well as fraudulent companies.
and refuse to make their report, and
thus impose upon the people 1t would
he better. in my opinion, to require Of
them nominal tax and a Regular license.
for their own protection, as well as that
of the people. Let us have an insur
ancc department, not to be filed by pie
caters or "office-hunters. but by men
capable and fully competent TO discharge
the duties thereof without fear, favor
or affection. We have such men. j
think II III W0OIDEII.