The gold leaf. [volume] (Henderson, N.C.) 1881-1911, 1901-08-29
INSURANCE LEGISLATION.
Extract From the Annual Address OF
Col. Walker Taylor, President of the
North Carolina Insurance Agents
Association.


North Carolina Insurance Agents
Association.
Following is an extract from the
annual address of Col. Walker Taylor,
of Wilmington, president of the North
Carolina Insurance Agents Associa-
ton, delivered before that body at
their meeting recently held at
Wrightsville. Touching the question
OF legislation as related to the insur-
ance business in this State, Col.
Taylor said this, in which he took oc-
casion to pay handsome and merited
compliment to our townsman, lnsur-
ancc Commissioner Young:
In considering the matter OF rates, l
referred to the fact that excessive
losses were sure to result in an in
crease in rates. Excessive losses may
come about legitimately, but are gen
orally the contribution of carelessness
and fraud. An ideal condition would
be one in which carelessness and
fraud were entirely eliminated, for l
cannot doubt that with modern ideas
respecting architectural construction
and fire proof conditions, losses could
be reduced to such limit as to insure
minimum rates for the entire country.
Carelessness, however, seems to be
the most pressing matter for our con-
sideration. The insurance laws Of
this State are as near ideal as 1T is
practicable to make them, and the
healthy condition of the business in
this State is attributable largely to
this fact. The laws furnish machinery
adequate to not only maintain the
present healthy condition, but to i'm
prove it. Where law is adequate to
produce a certain result, and such re-
suit does not obtain, the fault is with
the execution of the law. | consider
the situation indeed fortunate, for if
the laws are not executed we have
only to blame ourselves.
Insurance missioner Young has
proved a most valuable officer. and if
tenue Of office is conditioned on fitness
and service, we may reasonably eX-
charge the duties of the office for
wears to come The Commissioner
stands ready to prosecute all cases re-
quiring investigation with vigor and
thoroughness, but in the nature of the
| case, the local agents must bring to
the attention Of the Commissioner,
through the proper authorities, cases
ir;n al
therefore, that if the present healthy
conditions in this State are not main
tanned and advanced, the fault must
fall largely upon local agents, whose
negligence only could give rise to
dcteriorating conditions.
SO much for principles; now as to
practical application. Does every one
of us make it his duty to sec, that the
fire regulations in respect to construc-
ton of buildings and clearly condi-
ton OF premises are enforced? This
is the situation in a nut shell. The
best of rules, and even laws, will fail
if their execution is neglected. In
fact, it were better, from mora
standpoint, to have no laws, than tC
have the laws merely to disregard
them. | believe it is within oul
power to give to the business inter
ests Of North Carolina not only the
lowest rates among Southern States
but to extend the comparison NORTH
Of Mason and Dixon line.
Have your town authorities mad,
and do they enforce fire regulation!
such as will make effective the insur
ance laws? II not, why not? I'm
que.tionably, it i. within the province
of every local agent to bring this mat
ter to the attention of his towr
authorities and see that the proper
Legislation is enacted. Be not dis
mayed by the opposition Of some
local officer, for you may count con
fidently on the support of the insur
ing public. See to it that the proper
local officer investigates all cases re
quiring attention and reports al
suspicious or incendiary cases.
would be glad to know that this sug
gestion will be acted on, and if
record is kept of each case reported
and report made to our next annua
meeting, believe that data of mucl
importance will be given us at tina
time.
| In closing this report, l desire It
express the opinion that our insurance
laws in their present letter and spiri
are of such inestimatable value to tn
business interests of the State as t.
Justify every one of us in using hi
utmost influence to see that thei
high standard of efficiency is in n
degree impaired by future Legislation