The evening times., 1900-03-16
DISTRICT INSURANCE BILL.
Mr.. Jenkins Makes "A Favorable Re
port From the House Committee.

port From the House Committee.
Mr. Jenkins, from the House Committee
on the District Of Columbia. has presented
a favorable report, with a number Of ver-
bal changes. on the bill to regulate insur-
ance in the District OF Columbia The bill
as amended has received the written ap-
provaI Of Commissioners Wight. Ross. and
Beach
The bill creates a department Of insur-
anee. under the direction OF the Assessor.
who is ex oflcio Superintendent OF Insur-
ance. who is allowed one insurance clerk,
who shall be an expert and shall devote all
Of his time and energies to the insurance
business
Heretofore there has been no Law gov
erning the insurance business in the Dis
trict, no supervision whatever except that
the companies are required 70 make l per
cent returns on their gross receipts; and
10 the public mind the insurance busi-
ness has been IN a chaotic condition:
whereas the bill presented requires the
companies TO make sworn returns OF the
business transacted in the District, to
file copies Of their charters or articles Of
Incorporation with the Superintendent Of
Insurance. who shall nave supervision Of
surance companies. and beneficial orders
and associations. The Superintendent shall
see that all laws OF the United States re-
iating 10 all classes OF insurance compa-
nies are faithfully executed
The Superintendent Of Insurance is 10
act as attorney for companies whose prin-
cipsl Office is located outside Of the Dis
trict. for the purpose OF having some one
designated, who is accessible. upon whom
ha
The report says
The bill although not intended as a
revenue bill, does increase the District
revenues somewhat. II provides rules and
regulations for the protection OF good. re-
liable companies, and shuts out irrespon-
sible or what are known as wildcat com
psnies. whose existence is on paper only.
aud thereby is great source OF protec-
tion 70 all closses. more especially the ig-
norant. who are more susceptible TO being
defrauded
The adoption in this bill OF the New
York Standard Policy in itself is Of mani
fold benefit 10 the insured. IS well as 10
the reliable insurance companies. by pro-
tecting poor. ignorant people who have
been known TO pay out money for insur-
auce whlth they believed 20 be good but
which would contain conditions that
would iJ'yalidate the contract on a mere
techEicanty. and this bin viii remove
such companies from the community and
enable the reliable companies 10 do the
business and thus be a benefit ell around.
The Office Of the Assessor o. the Dis
trict IS flooded with enquiries about GER
tain companies doing business il the COM
munity and from the lack of supervision
cannCt intelliscntly answer
This bill also provides shay the super
iutendeut Of Insurance shah revoke the Ii-
ceuse Of any company failing 90 comply
with the terms OF requirements Of this act.
also provides Tor a small iicense Zee FOR So
hcitors and brokers. so as 20 have them
registered and under the supervision OF the
Superintendent. thus iusuriug the public
from being imposed anon by INSCRIPTIONS
persoI -
Hcers ... ..... .-
comm .--
and Q
sents-
"Th
fcers ...
Union o,lu apl,io,v.. a., meets -,.,H ,a-
approval Of all parties interested iu the
business Of insurance. ard is also recon-
merded by the Commissioners OF the Dis
tricJ OF Columbia and the Assessor. ,.bo is
ex othcio Superintendent OF IusCra1ca-