New-York tribune., 1902-12-31

The life insurance companies, being compelled
to invest reserve funds in approved securities
are large holders Of the stocks and bonds of
states. municipalities railroads and industrial
corporations. Many of them also have invested
millions of dollars in real estate
Accident insurance dates from the early COS.
hut has grown vastly more popular in the last
few years than before. Up TO within few
months ago general health insurance was an
infnitesimal item in the regular insurance busi-
ness 1t was the necessity Of something of this
kind that responsible for the growth
of so many fraternal orders having sick benefits
as the basis Of their operations few COM
panies issued policies granting indemnity during
disability caused by certain specified diseases
but these policies never particularly pop
ular Within the last year a number of COM
panies have begun to write fun health policies
ander which indemnity is paid during loss of
business time caused by any disease whatever
except rheumatism or insanity. It is confidently
predicted by insurance men that these policies.
ssued by sound financial institutions will drive
out of business practically all of the fraternal
benefit orders So many Of these societies have
tailed within the last twenty-five years that the
public generally has lost confidence in them.
Indemnity insurance of all kinds has made
vast strides within the last decade Nearly all
II the railroads and many Industrial institutions
insure all their employees against accidental in
lurles. and many of them against disability
caused by illness This branch of the Insurance
time
nave not been entirely satisfactory and many of
them have gone the wall These concerns do
aet insure against all loss through bad debts
OUT unoeftake that the losses from that source
VII not exceed a certain percentage of the bust
ness transacted by the insured The actuaries
however, have not been able, il would seem to
a ffra1z- fcf,1
II rates and the whole business is Thought 10 he
yet in an experimental stage.
The different kinds of casualty and inde,,;+,,
insurance which is written NOWADAYS would
make the old Lloyds underwriters stare Burg
ar, elevator. steam boiler. live stock guarantee
against defalcation by employees and against
samage suits are few. The list might be ex
ended almost indefinitely
Marine insurance is probably the Oldest kind
shoWn IL is said to have existed in the earliest
lines Of which have any record Ii has
Sfown with the increase in the value of ship
alngs but the growth has naturally been more
gradual than life casualty insurance
The history Of fire insurance in the last ten
ears appears to have been an almost continual
aght against irresponsible wildcat" mutual
and "Lloyds" companies. Only a few sound
American companies have been formed and a
arge proportion Of the legitimate business has
peen done by the English and German corpora-
IONS which have established branches In mi.
COUNTRY. In the nature Of things fire insurance
cannot be made the almost exact science TO
which life insurance has been reduced. The act
uaries of the life companies are able to tell
S3itlosl inS exact number or persons of given
age who viii die out of every thousand within
specified period Localized epidemics do not
1isarrange their computations. they have
ceen considered In making up the figures. Fire
insurance, however. is more of gamble. IL is
iue to this fact that so many irresponsble con-
aerrs have entered the field. Some of them have
succeeded temporarily because of good luck in
thsurlng property when there has been no loss
and this has induced others TO enter the field
ana take long chances Many of the States
nave passed stringent laws for the purpose OF
soppresslng this business. but they have not
been entirely successful as many policy holders
could testify who have discovered after a loss
That those who have insured them are wholly
irresponsible =