Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1904-10-19
TIE RECORD OF INSURANCE COMMITS
SIOEER HOST.

He contends, and has successfully pro-
secuted in the courts % Wisconsin in
the Equitable-Surplus case. that all life
insurance companies must contribute
their surplus or overpayments of policy
holders, either annually or once in two,
three, four or five years, which means
between eight and ten millions of dol
lars to policy in Wisconsin, if the
supreme court sustains his contention
His fearless fight to prevent the Pru-
dental Insurance Company from trans
acting business in Wisconsin while it
has over one-seventh of its assets de-
pendent upon the solvency Of trust
company Of whose financial condition
he was refused all information, is worthy
of consideration. 1t is evident that he
viii not see the interest of policyholders
in the state placed in danger by having
their funds dependent upon and trust
company gIose condition he knows
absolutely nothing about His exami.
nation Of the company discloses the fact
of the g. 100000 capital only s91 900 has
ever been paid in in cash, the balance
consisting of capitalized surplus, or
overpayments which should have been
returned to its policyholders.
Some newspapers and campaign
speakers have been INSCRIPTIONS in their
remarks regarding the costs of the ex.
animation OF this company, The fact
is that there were over so people VINO
participated in the examination, among
whom was distributed the s21. 900 the
cost of the examination, which was less
in proportion to the amount of insur-
ance in force, than any other examina-
ton in which the insurance department
ever participated.
Mr.. Hosts Interpretation of the law
regulating the taxes of stock fire insur-
ance companies, has resulted in the
turning into the state treasury about
$4,000 in back taxes this year and sl5,-
900 more viii be collected through prose-
cntion of the companies refusing to pay
it.
The largest amount Of money turned
into the state treasury through the
insurance department in any one year,
previous to Mr.. Hosts term Of office,
was S46S 600, Las year he turned into
the state treasury overs 1904, 900 and
during the first nine months Of this
year made it over S570. 600. This makes
the department of insurance one of the
pest sources Of revenue to the state,
while the expenses Of the department,
consisting Of salaries, postage, express,
printing etc amount to only about
500 600.
Through Commissioner Hosts per-
sistent fight against wild ca" insur-
ance this state is about completely rid
of that class Of insurance. In all mat
tiers brought before the department he
has fearlesslY done his duty as required
by law and for the best interests of the
people Such an official, absolutely fear
less of the intimidations of the big in
surance corporations, should be sup
ported by the people of this state. There
are other needed reforms that will be
given to the people if he is reelected to
a second term. Stock fire insurance
company rates are high Capital stock
of life insurance companies is detri-
ment to policy holders, There are other
reforms along this same line which will
be effected If there is continued in the
office of insurance commissioner, the
man who does not shirs his duty but
performs it without fear or favor, in de-
hance Of the intimidations of the insur-
ance companies and in accordance with
his oath of office.