The times. [volume] (Washington [D.C.]) 1897-1901, 1900-04-03

The House yesterday afternoon passed
the jenkins bill to regulate insurance in
the District OF Columbia. after discussion
lasting for more than two hours. ana
which was participated in by Mr. jenkins.
Mr. Babcock. Mr.. Ray Of New York, ana
Mr. Henry OF Mississippi, for the bill and
Mr. Hepburn. Mr.. Henry OF Connecticut
Mr. Russell of Connecticut. Nj. McRae Of
Arkansas. and Mr. Ridgely against it.
Mr.. Hepburn's objection 10 she bin vas
general Mt. Henry Of Connecticut and
Mr. Russell opposed IL because IL IN
creased the tax on foreign insurance com
pauies doing business IN the District rom
/ to ] l-2 per cent on their premium lt-
ceipts; Mr.. McRae's amendment TO the Lll
20 prevent insurance companies from COM
biuing to raise or to- maintain insurance
rates was adopted, and Mr.. hidgeiy
thought the bill gave 10 insurance com
panies the benefit OF too many exemptions
from liability.
Il was l2:45 O'Clock when Mr. Bahco-k.
Chairman OF the Committee on the Dis
trict OF Columbia. after reminding the
House Of the order made last Monday.
called I'D House bin g2S&, TO regulate IN
surance. This bin was introduced by Mr..
jenkins. on March s, and on March % u
was reported with amendments, referred
TO the House calendar, and ordered 10 be
printed. The clerk proceeded with the iiIst
reading Of the bill, which covers twenty
three pages The reading occupied nearly
forty-hve minutes.
scope of the BiII.
The bill creates a department OF in
surance under the direction OF the assessor,
who is ex ofrcio superintendent Of insur-
ance who by the terms Of the bill is al
lowed one insurance clerk. who shall be an
expert on insurance, and shall devote all
OF his time and energies 10 the insurance
business.
The report of the committee on the bill
recites:
Heretofore there has been no law gov
orning the insurance business in the rs
trict. no supervision whatever except that
said companies are required to make l 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 10
make sworn returns Of the business trans
acted in said District. TO file copies OF their
charters or articles Of incorporation with
the superintendent OF Insurance, who shall
have supervision Of an matters pertaining
TO insurance insurance companies. and
beneficial orders and associations. said su-
perintendent 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-
cipal 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.
The bill. although not intended as a
revenue bill does increase the District
revenues somewhat. Il provides rules and
regulations for the protection OF good. re-
liable companies, and shuts out irresponsl-
bic or what are known as wildcat COM
panies. whose existence is on paper only,
and thereby Is great source Of protection
70 all classes more especially the ignorant
who are more susceptible to being de-
frauded."
When Speaker Henderson announced that
the question was Oh agreeing 10 the
amendment, Mr.. Hepburn said that as the
bill contained an appropriation. it should
properly be considered in Committee OF the
Whole. and MIR. jenkins in charge Of the
bill 70 whom time had been yielded by
MIR. Babcock. asked unanimous consent
that the bill should be considered by the
House as in Committee Of the Whole.
which was agreed TO- Mr. Jenkins ex-
planned that the adoption in this bill Of
the New York standard policy in itself
is OF manifold benefit 10 the insured. as
well as 10 the reliable insurance com
panies. by protecting poor ignorant peo-
pie who have been known 10 pay out money
for insurance which they believed TO be
good but which would contain conditions
that would iuvalidate their contract on a
mere technically. He declared that the
pending bill should il be enacted into law
would remove such comuanies from the
community and enable the reliable com
panies to do the business.
He explained that the bill provides that
the superintendent OF insurance shall re-
woke the license Of any company falling 10
comply with the terms and requirements Of
the act: that b provides also for small
license fee for solicitors and brokers, so as
TO have them registered aud under she
supervision Of the superintendent. thus
ensuring the public from being imposed
upon by INSCRIPTIONS persons. as every So
licitor must show his license before be can
receive his fee or commission. Mr. jenkins
said the bill had been scrutiuized by the
Insurance officers OF some Of the largest
States in the Union, and that it meets with
the approval Of all parties interested in the
business Of insurance in the District Of Co
lumbia.
The section on Taunton.
Mr. jenkins mentioned that there was
no discrimination between foreign and
local companies He would not favor per-
hitting foreign corporations TO come into
the District and paying q smaller tax that
that paid by the local companies. He
thought there was no danger that the for
eign companies would be driven from The
local field by the Increased tax Of one-hali
OF l per cent. Section 6 OF he bill. provid-
ing for the payment OF taxes 10 The District
Government follows:
That every insurance company Ur a-a#5a-i.
doing business % the District 81 Columbia shall,
through its local agents or reFrtslfifaiiN'-. ilI
nish 10 the superintendent during ihe month %
January 0f each year Statement 'i DTS Pig.
ness IN said District. setting far-A slle.iheait
the amount az lis premium receipts, tae Ainahl.
of losses paid. the amount % expenses incurred
respecting the business done lH said District dur
ing the calendar year ia-t rre. edlng, -ud SAID
superintendent shall preserve separate record
Of the same in bis Office for convenient reiff-
snce. showing The ratio 90 such LOSSES and csc
peuss-. respectively, 60 said prem. lm reno' pts
and al insurance Naunau.s- I'D every ue~"4I .llpH.
except mutual fire insurance companies. shall!
pay 20 the collector oi taxes. before March oi
each year q sum equal TO D 9 psg gsu'm o'
the ssid premium receipts ~ Che lasf preceding
calendar year. iu lieu oi .. other faNe-. except
taxes upau real estate and sut A"rl-. fees
provided foI by this act. and upon thc failure ~
any company t1 pay said take, before March D.
s. Aforesaid. the license ol said company shall
b. ret lkcd aud penalty oi d p'r ocuim pe
month shall Do changed au.iuE- said uoWIIsH1 .
whi,5, together with said taxes. shall Dee ,..-
lcctrd before saia elup4n. shall b. allowed 'n
resume business
NJ Henry Of Connecticut criticised the