The Manning times. [volume] (Manning, Clarendon County, S.C.) 1884-current, 1904-02-10
INSURANCE LAWS.
Two Very Important Bills Passed by
the House Thursday.

the House Thursday.
ANTI-COMPACT LAW REPEALED
And a Law Enacted to Create tn,
Office Of State Insurance
Commissioner With
Good Salary.
The House of Representatives pass
ed two important bills on Thursday
The Columbia State says: Three
years ago the general assembly passed
a law prohibiting the Southeastern
Tariff association from coming into
the State to make rates on property
to be insured. This was known a:
the anti-compact law" and Mr.. VIM.
L. Mauldin Of Greenville was the
author. Thursday the house of rep.
resentatives by good majority pass
ed a bill which repeals that act. Mr..
Maulding is also the author of the
repeating bill. The house passed the
Kibler bill providing for the office OF
insurance commissioner. Each bill is
dependent upon the other, for it is
proposed that the insurance commits
sioner keep the companies from
RUNNING up the rates, and in return
for removing the embargo against the
association the companies are to give
lower rates.
The insurance commission under
the bill is to be charged with the ex'
ecution of all laws, is to be elected by
the legislature, is to receive a salary
OF 81, 500 year and 500 for office
expenses, the funds for this expense
to be derived from tax Of one-fourtf
of one mill on gross premiums in addi-
tion to other taxes paid by insurance
companies. The Mauldin bill provides
that there shall be an examination by
proper officials into the cause of fires.
The companies which belong to an
association are permitted to conduct
business in the State, provided that
the purpose of the association IS not
to establish excessive or unreasonable
charges for insurance. Upon the COM
plant of citizens, the insurance COM
missioner is authorized to order the
company to correct the rate and to
order restitution Of over charges.
There was quite discussion over the
bills.
Mr.. kibler said that wherever such
an act has been passed in other States
it has been productive of great good.
The people need protection, and the
comptroller generals department. is
unable to keep up properly with this
vast business. The department Of in,
surance would not cost a dollar OF ap-
preparation, the insurance commission
er's salary would be paid by the in,
surance companies and the amount on
each policy would be so small that
there would be no effect on the
rates. In reply to Mr.. CASTOR, Mr..
Kibler said that he is sure that the
comptroller general, who has the
whole tax business Of the State tt
look after, cannot give the proper at
tention to the insurance department..
Mr.. Thomas favored the bill. The
comptroller generals department.
needs to be relieved Of some OF its
duties, for that office is required tx
give a great deal of time to persona
settlements with the treasurers anc
auditors in the several counties. 1I
many Of the counties thousands o.
dollars might be saved if the settle
ments were made properly and the
comptroller general, who is entirely
competent to attend to the duties o1
the insurance department, should be
permitted to give his entire time tt
the more important duties Of the ta2
department. Mr. Thomas then direc
ted his remarks to the need Of an IN
surance department. The antl-com
pact law is failure according to al
example which he cited. An agent
from St. Paul came here recently ant
raised the rate on building from IL;
to 1.S5 and all the local agents hae
accepted the rate so made. Property
owners should have an insurance com
mission to whom they can appeal TO-
advice.
Mr.. CASTOR opposed the bill on TN
ground that the companies are callec
upon to pay the expense and he sus
pected that there would be a tendency
for the commissioner to feel hlmsel
an employe of the companies as vel
as the State.
MI. DeVore opposed the bill. Their
is no complaint from the comptrolle
general that he is overworked or tha
he wants 70 be relieved of the depart
ment of insurance. 1t is wrong II
principle for the man who is to over
look and inspect the operations OF in
surance companies to be paid by thos
companies. The railroad commission
| is not worth three straws to the Stat
today, and the office of insuranc
commissioner would not be worth
three straws for the same reason tina
it should be kept up by the State AM
not by the insurance companies.
Mr.. Rainsford wants the office 0
insurance commissioner merged wit!
that of bank examiner created severa
years ago.
Mr.. Beamguard favored the bll
but wanted to adjourn debate unit
other insurance bills could be takel
up in connection with it.
THE ANTI COMPACT Law.
MI. Mauldin spoke in favor OF sepa
rating the work of the insurance de
partment from the other duties OF tn
comptroller generals office. He de
clared that the Southeastern Tarl1
association is monopoly and he ha'
introduced the bill which is now lay