The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1899-01-24

TO find IL difficult to get the risks taken
by desirable companies. 1t was und er
the anti-oompact law tha. the insurance
companies adopted the denny rates.
In 1895, the law passed four years before
was repealed and in its place was enacted
the present standard policy law. Before
the passage of this law, there were al
most as many kinds Of policies written In
Maine as there were companies doing the
business. The Maine Standard policy law
Is based on the Massachusetts, statute.
which has been In operation In that state
since 1881. Soon after Its passage, there
was ten per cent reduction which was
equivalent to q saving Of $50, 900 annual
ly on premium payments. Recently there
has been another reduction which Will
edeot further saving of 500, 0,OOO year.
The Standard policy law, as Its name IN
cioates, establishes q standard 70 wblcn
the policies of all tho companies doing
business In Maine must conform. IL also
contains provisions for the settling oil
losses and among these Is the arbitration
clause. which Mr.. Morey wants 20 re-
peal. This provides that when the com
pany and the insured cannot agree. each
shall name three persons. The company
selects one of the three named by
the insured; the insured selects one OF
those named by the company. and
tho two thus chosen select third, or IL
they cannot agree the Insurance. commits
sioner selects the third man. The adjus-
ters thus chosen settle the loss and their
decision is final. MIR. Morey makes OBJ
jectlon to this provisio, on the ground
that 1t prevents an appeal TO the courts
and the insured Is denied his constltu-
tlonal rights to have his case heard by
a jury. On the other hand the friends OF
the law declsre that the three referees are
virtually jury and being selected for
their knowledge of the matters upon
4sl.
lust determination than "A Jury OF IL Sc
eoted In tbe ordinary manner.
Insurance Commissioner Carr in the
course OF "a con versatioD with the PRESS
correspondent said today: II am opposed
to tire bill and should not be proper
man for insurance commissioner II was
not. The law OF 1871 cost the people OF
Maine SJO0,0u0 annually in increased
rates. Now We have got $780, 600 of that
increase cut OF and we want TO have the
rest removed. When / came into offiue In
1883 there were 40 different ways of writ
ing insurance. policies in use In this state
Now we have one so that all policy hold
ers are treated alike. The Insurance COM
pauies fought the adoption of the Massa-
chusetts standard. They wanted us to
take the New York standard which Is not
so favorable 20 the policy holder. The
Massachu usetts law has been In force there
sinoe 1881 with this arbitration CLAUSE In
It, In the -FOUR years we nave hal tnc
law here / have received no complaints
against this provision. The law is work
ing wcn ard rates have been steadily re-
duced. A bill similar to tho one now
pending was Introduced two years ago
and was defeated.
Against tne withdrawal Of % compa-
nies with o., 000,O OO0 capital In the Tour
years prior TO 1895, the record OF tho pres
ent law shows the admission OF AZ COM
panies with paid up cash capital OF $l2,
la. 7.s75. and under 1t there has been few
Withdrawals. "
WILLARD HEARD FROM.
Willard's various petitions began to ap-
pear this afternoon. Thero are three va
rieties OF them. Two sets of petitioners
want Willard annexed to Cape Eliza
beth. Another set have fixed their hopes
of Willard as IL town and still another
party want Willard set off from South
Portland but do not care whether Willard
becomes "a town or is attached TO Cape
Etiyabatf, .Hs=-z--=a.