The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-08-09
INSURANCE In INDIANA
GRADUALLY MODERN METHODS ARE
DIsPLACING THE OLD.
An Article i'm Rough Notes Comment
ing Hopefully on the Changed
Conditions in This State.

In an article in this weeks issue of
Rough Notes, the local insurance journal
under the caption. "A Change in the
Hoos.er Mind" some interesting facts are
presented. The article follows:
There Is, apparently, a great change go
ing on in the mind of the HOoser public
regarding insurance. During the past thirty
years the Hoosier has been making him
self famous and in many ways has greatly
prospered, although clinging 10 old ideas
about insurance and growing because of
high rates. He has levied taxes upon the
companies. thinking that he was getting
ahead by the amount of tribute money they
were paying, when, in part, he adding
to his Outgo for premiums more than he
was exacting for tribute. Apparently he is
learning that the consumer even of in
demnity of whatever kind, pays the freight;
and. within the past few years. he has be-
slowed some thought upon ways for les
sening freight charges. A bright idea struck
the HoOsier, but at first il nearly pros
trated him. He could do his own insurance
and save freight. 1t was not the idea. but
the application of il. that upset the Hoosier
and made him the laughing stock of his
neighbors. He tried mutual Insurance in all
its forms-mutual fire insurance with scores
OF companies, assessment life, assessment
accident. assess ment matrimonial asSocia-
ton and fraternal societies that gathered
up and disbursed millions of money while
strewing the State with their wreckage.
Nothing now is left of HOosier mutual in
surance companies. assessment associations
and fraternal societies worth listing in an
inventory of the States valuabes. The
HOosier Is not proud of his insurance record
in the making of which he framed his laws
with such partiality, favorIng mutually
and fraternalism. that he made it impOssi-
bic to beget insurance companies, that in
sure. within the boundaries OF his own do
main. He penallzed capital that would en-
gage in fire insurance by placing penalty
of 30 per cent. per annum on any claim.
however fraudulent. that any home joint
stock company might see fit to take into the
courts 10 adjudicate and the courts held
applied TO HOOsier companies.
1T was late in the nineties that the
Hoosier began TO wake up out OF his de-
bauched Rip Van Wrinkle sleep. during
which he was ObliViOus 10 the progress.
insurancewise. that was going around
him. When he began 10 realize that his
old mutual and fraternal friends were no
more. and that new generation had grown
up while he was mapping, he began 20 look
about for something In place or rotten rags
10 cover his nakedness. He tried his old
charter companies that he had endowed
with such remarkable powers before he
went 10 sleep. But these proved 10 be as
worthless : Rips Old gun. nothing being
left but the barrel. each end OF which was
equally dangerous when loaded. All this
time only the insurance side OF the HOosier
had been paTalyZed-the one side that was
asleep; otherwise ne was SO healthy, so
thoroughly Vitalized, that this side also
began TO show signs OF life and his blind
eye of recovering the sense Of sight. Hs
nullified some of his foolish acts. and I'm
1899 he took a sGuint through his right ave