The Minneapolis journal., 1902-03-15
INSURANCE IN 1901
Preliminary Figures From Annual
Report of Commissioner Dearth
BUT 10000 OLD LINE POLICIES
A Fact Which Will Cause Solicitors
to AustIe-Burglary Insurance
= Doubled.

missioner, issued preliminary report to-
| day covering the 1901 record of insurance
companies in Minnesota, exclusive of fire
! insurance. The report shows a prosper
Gus year, especially for companies insur-
| ing in special lines, which have greatly
| increased in volume of business and
profits. ..-
Old line or legal reserve life insurance
| companies, exclusive of industrial busi-
ness, wrote $25, ,435,1S6 of insurance in
| 1901, an increase Of $4,575,3s1 over the
previous year. Industrial risks amounted
| to 81, 2,94S, 4S2, a decrease of 1907, 1872. The
| total insurance in force Dec. 81, 1901, held
! by this class. of companies, was $l36, ,53S,
! S32, an increase over the year previous OF
| $26 956, ,59S. The total number of policies
| in force was los, ,408, Of which 41,536 were
! industrial The total amount Of indus
| trial business increased, showing COM
paratively small number Of lapses. This
class of insurance is held by working
people who pay on weekly installments.
| The total premium receipts by this class
| of companies for 1901 were $4,676, It'll
| an increase of $797 ,O73.22.. The total losses
were 1888, ,O65.4S, an increase OF
5000, ,4l6.6S.
! A Tip for Agents.
| Exclusive Of industrial policies there
are only 63,S72 held in Minnesota, which
! means that not over 10000 persons in the
| S1AS
| insurance commissioner concludes, Is
sign that there Is plenty Of work in sight
! for agents of these companies.
| There are only two stipulated premium
| companies operating in the state. They
wrote $3,7O3. $50 in 1901, and had $500, 300
of policies in force at the end of the
year. Premiums received amounted to
| $17S, ,52S. "a, with losses Of $119,2
Personal accident insurance written IN
1901 aggregated $71,5S1,935, as against
$50 1O9, 993 the previous year. Premium
receipts were $250,052.7s, an increase OF
| s22, ,366.97 Losses were $100,O46.4O. an in
crease Of $4,919.02.
ten to the amount of $25, 100, ,649.29, an in
crease Of So, Ats 963.71 over 1900. Premium
receipts were $249, 1861, and losses were
S137, 45, increases OF $11, ,12177 and $1O,-
447.97, respectively.
Plate glass insurance was very protita-
BILE. Insurance written was $1,564, ,S12.S3,
which was $171,223.76 more than 1900.
The premium income was $35,485.40, an
increase of 81, OFT &c, and losses were $1S,-
814.6S, an increase OF $5,1S0.87.
Fidelity insurance bonds written were
$33, 1926, 1915, an increase of $6,194, ,42S.S6
over the previous year. Premiums were
s157, ,5OO.14 and losses only $29,42O.93.
Premiums increased $26,032.23 over the
previous year, while losses fell off $63.35.
S71.52 the amount written in 1901 being
$40, ,676, 1856. Owing to higher premiums,
the receipts increased $2,52S.5 so, amounting
to SAL, ,7O6.21 The losses were only
$1,61192, a clear profit, less expenditures,
of $4,000.
the amount of $3,109,268, an increase OF
$201,913. Premium receipts were $685.
929.S9, and losses $6,83S.2O.
Burglary insurance more than doubled
over the previous years. Risks written
were $3,903,3 1896, as against $1,860,848 for
1900. Premiums received were $751;,
o72.58, as against 5,59S.14, and losses
more than doubled, being $16,457, as
against $7.119.65 for 1900. The insurance
commissioner says:
whether this casts reflection upon
the efficiency of the peace officers Of the
state, in other words, the various police
departments, or whether it is an indica-
tion that there is more property to be
burglarized, is a problem for penologists
to solve"
Health insurance written increased from
S3S9,525 to $1,1S1,536. Premiums were
s1, 1864, and losses, $3,62S.97.
Sprinkler leakage insurance written
was $320,815, a slight decrease. Pre-
MUM receipts were $3,826.19, and losses
5000
Title insurance companies wrote 81 ,606,
375 of risks, and received SIC, 0,443.45 in
premiums
Assessment life associations showed a
marked falling off owing to the desertion
of three large companies. The total
amount in force Dec 81 was SO, ,901 ,705, as
against 31,0S0. 1853, showing a decrease
even among the companies which still
write this class of business, and the in
surance commissioner predicts that in
time this class of insurance will be obso-
lete, except in fraternal societies. .
Assessment accident insurance in force
decreased from $9,907,577 to $5,81O,2
Fraternal societies have increased in
membership from 102,595 to 119, $780, and
insurance in force has grown from $146,-
10000 to 64,94S, $50 The total amount
received from members was 81, ,254 767.67,
an increase Of 1852 ,109.S0. Total losses
were 1888, ,242.43. an increase of $133, ,027. SO.
In most of these societies the rate of pre-
MUM collected Is insufficient to secure
future permanency but a disposition to
adopt higher rates is noted, particularly
through the Fraternal congress. Mr.
Dearth recommends uniform laws re-
quiring such societies to adopt uniform
table Of rates.
During the year twenty-five companies
withdrew from the state, the state, three
of them joint stock casualty, six assess
ment life, ten assessment accident, and
six fraternal societies. ~"