The evening times., 1900-02-03
INSURANCE MEN HEARD
They Discuss a New Bill Before a
House Committee.
The Question of License for Local
Agents Argued-Chuirnan Smith,
of the Board of Underwriters.
Speaks in Favor of the Measure.
Belya Lockwood Enters Protest.

The Subcommittee on Judiciary CT tht
House District Committee gave a hearing
this morning on the bill to regulate insur-
ance in the District. F. H. Smith. Chair
man of the Board of Underwriters. appear
ed for the bill He said nearly every State
had a general law on insurance. which oD-
Grated to the benefit of the community
There was no general insurance. law in the
District, and there ought TO be one because
at present irresponsible companies could
come here and do business. He said in his
opinion there was no city in the country
where writing insurance was conducted un-
der such great difficulties as in Washing
ton The bill under consideration, he said,
was substantially the same as amended
and reported by the Senate Committee last
year. Under the bill, Mr.. Smith said. TO
company. agent, broker, or solicitor would
be permitted to conduct an insurance bust
ness without a license from the Superin-
tendent of Insurance, who, under the bill
Is TO be appointed by the District Com
missioners. No company under the bill,
except in. certain cases, can have license
unless it has paid up capital of s1G5, 900.
Mr., Smith made an extended review of the
bill His statement was listened 10 with
Interest,"
Mrs. Belva Lockwood representing as she
said, a small beneficial association, ap-
peared in opposition to that section OF the
bill requiring all solicitors TO be licensed
The language Of the ninth section she
said. was not clear and should be amended
She had no objection TO the bill AS a whole.
General Birney made an argument in IA =
vor OF a general insurance law. The bill
he said, was infinitely better than the one
on the same subject reported by the Sen
ate last year. He analyzed the bill and
pointed out the sections that should he
amended He also suggested several sec
tions that would meet objection that might
be raised by the opposition. The bill. he
said, was carefully drawn in the interest OF
the insurance companies and IL seemed to
him that The interests OF the policy hold
ers had been overlooked He would have
the bill amended so that the policy hold
ers' rights would be protected as much so
as the insurance companies.
At the suggestion of Chairman Jenkins.
General Birney said he would put in writ
ing his amendments and submit them 10
the committee.
Noble ID. Larner wanted the insurance
companies placed on the same footing as
the insurance companies in Pennsylvania
or New York Under the proposed law. he
said, the home COMPANIES were discrimi-
mated against.
K. f. Sullivan argued against that sec
ton of the bill requiring agents 10 pay $50
license fee. He thought the tax should be
placed on the insurance companies He
intimsted that the bill was i'm the interest
of the big insurance companies. and trust
companies The idea of the bill. he said
was 10 make it impossible for the poor
agent to dc business.
Henry Wells of the Board of Under
writer's, said he was opposed to allowing
men in the departments to do insurance
business without a license. He did not
want the poor insurance agent driven out
of business Mr. Deeble made e brief
argument in favor of the bill.
Chairman Jenkins said the people of the
District often complained that Congress
gave them no consideration. but it seemed
impossible for the people to get together
The hearing this morning developed the
fact that the insurance companies couldn't
agree on what they wanted. IL seemed to
be a case of dog eat dog.
Without reaching any understanding the
committee adjourned.