The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-02-07
INSURANCE NEWS AND
NOTES
NOTES

should be put in as a separate item. which
amounts will adjust themselves the fol-
strongly 10 the sound companies, as an i'm
provement over the old forms.
XXX
The department of insurance in New Zea-
land wrote insurance during 1902 to the
amount of 100000. 1t has now assets ag-
gregating more than 100000. which is a
very creditable showing when it is consid-
cred that the colony has a white population
OF only bout 100000. The department car
ries on its business more In the fashion of
private company and has active agents in
its service.
The Union Casualty and Surety Company
has issued a new health policy which in
sures against disability arising from any
illness except insanity, rheumatism, and
which does away with any graduation in
the payments. Health policies limited TO
certain diseases are not very profitable to
the companies. since the insured can man
age 10 creep in to it's protection IL he has
any illness whatever.
XXX
The Ocean Accident and Guarantee Com
pany in England is Offering new line of
insurance to protect stock brokers against
loss by reason of their having dealt in
forged or stolen bonds, scrip, debentures,
stock certificates, coupons warrants, or
any forged transfer thereof, or any Forged
power of attorney. or by reason of identih-
cation fraudulently procured. The premium
is Il per cent. per annum.
XXX
The Mutual Life, of New York. celebrated
its sixtieth anniversary on the first OF
February, the company having issued its
first policy in 1s43. A handsome special
policy was issued on that date, and the
agents were urged TO make a speciality OF
ten.year distribution policies, SO ,nat the
dividend period would expire on the seven
tieth anniversary. The company Will erect
at Cape Town, South Africa the first skele-
ton steel skyscraper in Africa.
In the District Court at Colorado Springs
1t was decided that the anti-rebate law
of Colorado was unconstitutional; that 1t
was class legislation; tina 1T infringed the
right of contract, and was not broad enough
TO cover the case at bar There does not
seem to be any law which can get around
the fact that the commission is the prop
erty of the agent, and that after he re-
ceives Ii he may do as he pleases with u.
The remedy is with the companies, not with
the States.
The industrial companies do not seem to
be much worried over the stir which some
newspapers are trying to create against
child insurance; but the periodical mania
seems to have broken out in many of the
States, and bills have been introduced into
Legislatures which could do a vast amount
of harm in preventins honest parents from
obtaining such insurance. If the companies
do not see that the legislators are informed
as to the benefits of such insurance and the
actual statistics regarding II.
| 1t was recently decided in the Supreme
Court of Wisconsin that when only one of
| a number of fire insurance policies on loss
has the so per cent clause that in prorating
| the insurance the policy having the clause
must be figured at its face value. and that
the object and effect of the clause is simply
| to reduce the liability of the company. The
| other companies who had insurance on the
risk claimed that the insured could not de-
mand full value from them since it had
agreed with the one company 10 become
| a part insurer, but this contention was not
sustained.
| Some of the companies doing business in
| the West are making Investigations into the
| danger or infection from consumption, since
many of their policy holders who are safe
risks as far as their own physical condi-
ton Is concerned are so continually asso-
ciated with consumptives, especially in
| feel that the danger of infection Is a serious
| menace to them. In the medical blanks
| there is an inquiry as to the character OF
| the applicants surroundings and his asso-
ciates, and the medical examiner is sup
| posed to make a careful private inspection
/ of the nature of the hazard TO which the
! applicant may be exposed.