Evening star. [volume] (Washington, D.C.) 1854-1972, 1900-03-16
NEW INSURANCE BILL
Report of the House District Committee
Presented Today.
Advantages to the Companies and to
the District Fully Set
Forth.

| Mr. Jenkins of Wisconsin has presented
| to the House the report of the District COM
mittee on the new insurance bill. The re-
| port says:
| 1.-The bill presented creates a department
| of insurance under the direction of the as
! SCISSOR, who is ex officio superintendent of
| insurance. who by the terms Of the bill is
| allowed one insurance clerk, who shall be
an expert on insurance, and shall devote all
of his time and energies to the insurance
| business.
No Supervision Now.
Heretofore there has been no law gov
erning the insurance business In the Dis
trict no supervision whatever except that
said companies are required to make per
cent returns on their gross receipts; and to
the public mind the insurance business has
been in a chaotic condition; whereas the
bill presented requires said companies to
make sworn returns of the business trans
acted in said District, to file copies of their
charters articles of Incorporation with
the superintendent of insurance, who shall
have supervision Of all matters pertaining
to insurance. insurance companies and ben
efeial orders and associations. Said super
intendent shall see that all laws of the
United States relating to all classes of in
surance companies are faithfully executed.
THE superintendent of insurance shall
act as attorney for companies whose prin-
cfpal office is located outside of said Dis
trict, for the purpose of having some one
designated. who is accessible, upon whom
legal process can be served.
Increases District Revenues.
1.-The bill, although not intended as rev.
enue bill, does increase the District rev.
enues somewhat. 1t provides rules and reg
ulations for the protection of good, reliable
companies, and shuts out irresponsible or
what are known as wildcat companies,
whose existence is on paper only, and
thereby is a great source of protection to
all classes, more especially the ignorant,
who are more susceptible to being de-
frauded.
The adoption in this bill of the New
York Standard Policy in itself is of mani
fold benefit to the insured, as well as to
the reliable insurance companies by pro-
tectlng poor, ignorant people who have
been known to pay out money for insur-
ance which they believed to be good but
which would contain conditions that would
invalidate the contract on mere techni-
cality, and this bill will remove such COM
panies from the community and enable the
reliable companies to do the business and
thus be a benefit all around.
THE office of the assessor of the District
is flooded with inquiries about certain COM
panies doing business in the community
and from the lack of supervision cannot In
telligently answer.
May Revoke License.
This bill also provides that the superin-
teHueHl ol insurance snail revoke the IL
cense of any company failing to comply
with the terms or requirements of this act;
also provides for a small license fee for
solicitors and brokers, so as TO have them
registered and under the supervision of the
superintendent, thus insuring the public
from being imposed upon by INSCRIPTIONS
persons, as every solicitor must show his
Incense before ne can receive his fee or
commission. which license states plainly
across its face the name of the solicitor
and the name of the company he repre-
Sents.
This bill has been scrutinized by the Of
hcers of some of the largest states in the
mon and approved. It meets with the
approval of all parties interested in the
business of insurance, and is also recon-
mended by the Commissioners of the Dis
trict of Columbia and the assessor who is
ex-ofhcio superintendent of Insurance.