The leader. [volume] (Brookhaven, Miss.) 1895-1905, 1904-05-21

accident insurance begun. The de-
Dartment, after few years, began
TO assume gigantic proportions and
became too large Tor an adjunct of
another department, making 1t neces.
sary to create a department for the
exclusive handling of this business.
Hon. w. @. Cole, who had the hand
ling Of the insurance department dur
ing his term of four years as auditor,
was elected to the Office and Is now
performing the functions of the same.
Believing that not one man in dozen
in the State at large has clear con
ception of the duties and responsible
ties of the Office, and the benefits to
rived by the people, this article is Of
be derived by the people, this article
Is offered as a partial statement of
facts concerning it. Too much space
would be required to take the matter
up and handle in detail, but few of
the most important points will be
given.
Mississippians pay annually for the
different kinds of insurance the enor-
nous sum of over five million dol
lars. This is in excess of the amount
paid for taxes of all kinds, and the
need of protection for those who in
sured had been felt for some time
There are thousands Of victims who
can bear testimony to the lax meth
DDS in vogue in the past Wildcat and
irresponsible concerns had the same
privileges as those that were on firm
financial basis and were just as free
to send their solicitors into the State
and take the peoples money without
the hope of ever returning cent if
loss should occur. The principal duty
of the insurance commissioner is to
thoroughly investigate every company
offering to do business in the State
and ascertain it's undoubted RESPONSE
bility before granting a license. He
Is empowered to visit the home office
and demand any proof that he may
see fit to satisfy himself as to the alb
solute reliability of the concern. After
this has been done to his perfect salts
faction there are other laws and regu-
lations that must be complied with be-
fore license is issued The protec-
ton to legitimate companies is also
an item, as it prevents illegitimate
ones from coming in and doing bust
ness at rate impossible to be met
by those who were compelled to pay
losses; then, too, the failure of a com.
pany to make good its losses promptly
prejudices the people against all in.
surance companies and decreases the
volume to some extent. On the other
hand, the commissioner stands be-
tween the companies doing business
in his State and losses from incen-
diary fires by the insured for fraud
ulent purposes. Where there is sus-
picion attached he is compelled to in
vestigate and determine as far as pos
sible the guilt of the accused. All
agents for insurance concerns doing
business in the State must have a Ii.
cense and the commissioner must see
that the law is strictly enforced along
this line. Too many cases in the past
have proven that parties without this
license were soliciting insurance, and
there was no one to look after the
States interests. The insurance com,
missioner, then, is a mediator between
the companies and the people who in.
sure, and his duties are to see that
neither side is imposed upon.
Another question uppermost in the
minds of the people who have given
the subject thought is how is he
paid and from whose pocket does it
come? Not unlike everything of this
character, it comes from the pockets
of those who desire protection, and
patronize insurance companies. But
the State of Mississippi has been pay.
ing for this protection all along.
whether it was gotten or not. Neigh.
boring States have for years main
tanned such an Office and the rates in
Mississippi were on par with the
rates in those States. The rate here
has not been increased more than in
them, so our, people are paying moth.
ing additional for their protection.
Since the creation of this office the
States revenue from insurance com.
panies and agents hap more than
doubled. Four years ago the amount
received was only $4,000. which has
now increased to $4,000 and bids
fair to go far beyond that figure this
year. 1t is just as we'll that the State
get this revenue, as she is entitled to
it, and the policy holders pay no more
than before the Office was created.
1t might prove interesting to some
to give few statistics with regard
to insurance in Mississippi during the
past year. AS was stated in the be.
ginning, the total amount paid in pre-
miums on life, fire, accident and mis-.
cellaneous insurance was over $780,.
900. The amount returned for losses
was about one-half that Old line life
companies collected in premiums S..
262, 1898 and paid in losses $716,910
Is. Fraternal orders collected in as.
sessments for 1902 {1903 figures no,
yet compiled),> $703, 90791, and paid
out for losses $684.775.15 Fire com.
panies collected in premiums $1,972.
749.07, and paid in losses 1852, $40 Al
Accident, liability, steam boiler and
other miscellaneous companies col.
lected in premiums $3.50, 40970, and
paid in losses $62,2S8.49.
From the above figures it will be
seen that the rates charged by old line
life and fire insurance companies is
too high by far, but it is not in the
province of the insurance commits
sioner to regulate these rates. Some
of the fraternal orders have their
rates too low, as will be seen by a
comparison of the assessments and
losses of the Woodmen of the World
which collected $160.21145 and pait
in loses $214,352. The Endowment
Rank, Knights of Pythias, collected
$119,58207, and paid in losses $780,.
600. The Knights of Honor collected
$161 ,325.71 and paid in losses STAT, 500
Yazoo City has her sail up to catch
the breeze of an additional railroad
The route is being selected for an
other line running south from thai
town with Jackson as the objective
point. One new road is just being
completed into this progressive town
and here comes another.
Some one has said that sulphur
scattered through your corn crib will
keep away all rats and mice and moi
hurt the corn for any purpose in the
least. This receipt may be worth
something and is given for what there
is in it.