Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1905-12-08
INSURANCE INQUIRY URGED
Nsbraska Life Underwriters Ask that the
State Make Inves igatiOn.
LETTER SENT TO GOVERNOR MICKEY
Copy of Resolution Adopted by
the Association Recommending
that Action BE Taken IL
Further supported.

Following is a copy OF the letter sent to
Governor Mickey by the Life Underwriters
association of Nebraska, urging him to
provide in his call for a special session of
the Legislature for a committee TO investi-
gate the life insurance companies chartered
by the state of Nebraska:
OMAHA, Dec. s, 1SO6.--John H. Mickey,
Governor Lincoln, Neb.: Honored and
Dear Sir-The Life Underwriters associa-
ton of Nebraska, all Of whom are citizens
and taxpayers OF this state, and among
whose membership is the, president of one
company with It's home office in Lincoln,
and among whose membership are the sec
retaries of two companies chartered by the
state of Nebraska, respectfully ask that in
your message calling for a special session
of the legislature you carefully consider the
following resolution, passed at our last
Whereas, Investigations by the logisla-
tive committee of the State of New York
have disclosed practices and transactions
panies whose acts OF greed and extrava-
gance we earnestly and Indignantly con-
denim; and.
1ority of our life insurance companies are
| honestly and ably managed, yet we discern
feeling OF doubt and hesitancy Ia the
mind of the public to all companies;
therefore, now that the public conscience
is awakened to life insurance matters, we
| trust that all the companies will be ex-
amined. in order that confidence may be
| restored and the public know who and
where the honest trustees are, whether OF
west.
Therefore Be II Resolved. That we re-
/ quest and demand that life insurance com
/ panies chartered by the State of Nebraska
should be investigated by legislative
| committee, or examined by an expert
or D, +. FacSier. in order that the citizens
| and policy holders of our state may know
whether their policies are legally and
carefully securedg and thus make certain
that these companies have sufficient assets
properly invested, to cover all their liabi.
Titles. and also ascertain whether undue
extravaganza nepotism or other bad prac'
/ THE annual statements of the companies
| of the state, sworn to by their officers and
on file with the state auditor, show thai
they used between 81 and Is per cent Of
ment; while the companies investigated by
the New York Legislative committeeman
those most severely criticised-have USED
for this purpose, less than half as much
II the laws of Nebraska are not adequate
for the complete protection of polio,
not complied with in letter and spirit
the policy holders are entitled to know the
I'VE believe in investigation: as the out
come will rebound to the benefit of tbs
insuring public, and to all companies
In asking this we believe we voice {
general desire and sentiment of the citizens
of Nebraska, many of whom are INSURED
to know the financial condition of thes,
companies and their methods of doing bust
ness
President Roosevelt in his message goe
so far as to recommend national super
vision because of the ineficiency o
state insurance commissioners and saws
Recent events have emphasized the I'm
portance of an early and exhaustive con
Sideration OF this question to see Whet he
II Is not possible to furnish better safe
guards than the several states have bee
able TO furnish against corruption OF IN
hagrant kind which has been exposed. -
| And again he says: There is need of
far stricter and more uniform regulation q
the vast insurance interests of this coun
try
Governor LaFollette in his message rec
ommends a legislative committee with a
authority to summon and examine wit
nesses and to thoroughly investigate IN
books and papers Of the life insuran
companies and make a complete report.
The public conscience is awakened a
never before to all questions in whic
they have an undoubted interest and righ
\ 1t Is a day of Investigations, and when GU
home companies shall be found throug
> such an investigation, absolutely clean
management, with ample assets, and ou
> laws so framed that the policy holder wi
be sure of a square deal" a movemer
been completed that will enable the con
! panies chartered by this state to do ia
more business than they could possibly d
without such an investigation.
Trusting this will have your favorabl
| consideration, We remain,
p Yours very respectfully,
. THE LIFE UNDERWRITERS ASSoCIA
CATION OF NEBRASKA.
BY JOHN DALE, President
IOGEPH Y CLARKE. Secretary.