New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-03-11
THE INSURANCE REPORT.
LEGISLATURE ASKED To CONSIDER
CHANGES IN THE LAW.

Albany. March lo.-The annual report of the SUI
perintendent OF Insurance, Francis Hendricks was
submitted TO the legislature tonight Parts OF 1t
follow:
companies of this country, and foreign fire ipsur-
ance cOmpanies-United States brancheS-dolnS
gate Ss2l 72s ,32s IS. This is classified follows
stock comps ES S Of other statss }or
sisn nre insqratASe c9n2aRYieS (1nHea {
0S5 s.; mutuas OF other States $777SS IS Compared
With 1879 these figures show an aggregate increase
aSiss sSSsntins gsP5sl are Nsy3ST
joint stock companies S74l4,752 IS; foreign fire in
surance companies OF other countries Omitted
s4o47s So other States mutuas, $A2. S55 4; total
SIeZ 5000 - an increase or S .ycSS a" TIE total
The receipts for the year aggregate s76o7o7 2s oS
Hss nd GffF ssn
thryseTen eopanie dsbnrsed 81 81 or e
than they received. The total disbursements item
Isl 65 more than was reported for 1900 The Anneri
can capital OF foreign companies is sls56s.lSs Al
decrease Of s. 25SlsV 20, compared with the amount
reported for 1900.
SUM OF RISKS INCURRED.
ys 19' Ts4e eoTs4S d risk. a fora.
IN the year said companies, with the exception OF
the New-York mutuals. for $2i01Sl52 IS in gross
an average premium of 81 for every 500 insured
The Joint st9ck HTe companies OF this State re-
losses Incurred SIS G57 4O5 % The estimated amount
s. g. If 10 2 hear qgqS losses
makes total Of S2i PISA as showing as compare
with the premium receipts, an apparent net excess
of es spH 81 9gfF s losses incurred
The excess OF hre premiums received fre
losses incurred and estimated expenses all
written in 1901 s4,oSS $50 52. an increase OF
1892 $50. The amount of marine and inland risks
written in 1901 was S7,655,sS, an increase o.
On December 81 1901 the deposits in the Ins1,r
ance Department amounted to 800 S44 So an in
crease In the deposit OF securities since December
81. 1900 of Sl,6 $40 eS
. In 1901 the dividends paid 70 stockholders were
surplus Sis O95 024 1900 il was Sle SEQ eS
In 1901 the capital employed $54 SOC SIS; in 1900
capital of foreign fire companies The loss Of capi-
tai employed due to the withdrawal from the
State. retirement from business. of six Joint
stock companies of this State In addition to these
panies. and two mutual FIRE companies OF this
State.
The average premium charged for each 500 Of
insurance was increased rom 81 TO ~ and to
this fact the improved conditions OF the business
for the year is doubtless due
LEGISLATION PROPOSED
The fire losses incurred during the year in this
state $l5037.405 90 against SIS S77 s4 sc in
1900. This enormous waste of the property of our
citizens and the heavy tax imposed upon them for
the part OF the legislature and our local nnunic
pal governments. for the purpose Of ascertainine
whether local building laws may not be greatly
improved and more strictly enforced
I recommend the passage OF an act which will
require all partnerships associations Claiming
the exemptions provided in the Insurance law To
articles OF copartnershfp together with all Changes
which NAV have been made therein since the sote
OF their organization, and a statement of the kinds
insurance written and the name or nar,ss ,1,sy.
" hay 1op krtGf