The sun. [volume] (New York [N.Y.]) 1833-1916, 1906-04-18
ROOSEYRLT'S INSURANCE CODE.
SENDS MESSAGE TO CONGRESS-
SUBMITTING A MODEL hill.
Urges That Measure Drawn tip as Outcome
or Chicago Convention be Made Law
for District of Columbia Bll Now
In HOuse and Expected 10 be Passed.

Ot NhlCdSO NOhNchhAOh bV fAhN' te'
for District Of Columbia Bnl Now
In HOuse and Expected 10 be Passed.
WASHINGTON, April 1.-THE President
to-day transmitted to the Congress n mes
sage urging the passage OF an Insurance
law for the District Of Columbia in accord
anoe with the recommendations OF the
insurance convention held in Chicago last
February.
A bill embodying the proposed legislation
has already been int reduced in the House by
Representative Butler Amos of Massachu-
eette. 1t Is regarded a. Il model measure,
and the object is 10 have il ealGc'ed and SGT
up az a standard TO he regulations and con
ditlons OF which Insurance COMP anies dong
an interstate business Shall subscribe.
1t is expected that carly action will be had
in the House upon the bill and that it will
be passed by the Senate at this session.
The messig &c Of the President follows:
"To the SenGtcd and House of Representa- tires:
Il herewith transmit the report and
recommendations, with accompanying pa
pers, of the insurance convention which
met in February last at Chicago.
"The convention was called because Of
the extraordinary disclosures of wrongful
INSURANCE lHtlUOis l'ttihIN hIobC ny
the Armstrong Investigating com-
mittee Of the State of New York;
the suggestion that it should be called
coming to me originally from Gov, John A.
Johnson, of Minnesota, through Commis-
sioner of Insurance Thomas D. O'Brien, Of
that State.
The convention consisted of about 100
Governors, ACKNOWLEDGEMENTS and Com
missioners OF Insurance OF the States and
Territories of tho Union. The convention
was seeking to accomplish uniformity
of insurance Legislation Throughout the
States and Territories and as a
prime step toward this purpose de-
cided to endeavor TO secure the enact
ment by the Congress Of the United States
of a proper insurancc code for the District
Of Columbia, which might serve as a model
for the several States.
Before adiourning the convention APP
pointed a committee Of three Attorney
Generals and twelve Commissioners Of In
eurance of the various States TO prepare
and have presented TO the Congress a Dill
which should embody the features sug-
gested by the convention
"The committee recently met in Chicago
and in thorough and painstaking fashion
sought to prepare a bill which should be at
once protective Of ~policyholders and fair
and lust to insurance companies, and
which should prevent the graver evils
and abuses Of the business, and at the
came time ~forestall any wild or drastic
legislation which would be more harmful
han beneficial.
THE proposed bill is discussed at length
In the accompanying letter by Superinten.
dent Thomas Z. Drake of the Department
Of Insurance, in the district Of Columbia.
u very earnestly hope that the Congress
at the earliest opportunity will enact this
bill into law, with such changes as its wis.
dom may dictate.
Il have no expert familiarity with tbs
business, but | have entire faith in the right
Judgment and single-minded purpose o.
the insurance convention which met al
Chicago, and Of the committee of that con,
vention which formulated the measure
herein advocated.
I'VE are not to be pardoned il we fail &c
take every step in ourpower TO prevent tbs
possibility of the repetition Of such scan
dals as those that have occurred in con
nection with the insurance business az dis
closed by the Armstrong committee.
%"THEoDoRE ROOSEVELT.
THE WHITE HOUSE. April 17,la06.
The bill introduced by Representative
Ames, which is understood to nave beer
suggested, as it is now approved, by the
President, is a very elaborate measure
II appliea to the District of Columbia anc
the Territories. and ITS main purpose is
so to safeguard the practice of the insur,
ance business in those places that & com,
pany which could not comply with the
conditions imposed in Washington City, for
example, would, by its failure, make its inse'
curity patent to all the States IN which il
did business.
The salient feature of the bill is in rcduir
ing the fullest publicity. II limits the in
vestment of capital stock, and it aims tc
prevent life assessment insurance. to pre-
vent dividends in tontine periods, to pre-
vent child insurance, to prevent forfeiture
Of a policy after two annual premiums
to prevent tho present abuses in prudential
and industrial insurance, and to proven
deception by agents.
1t provides for advertising the ~sslarie
Of all officials. 1t PLACES a Chee=G-a6 The rate
Of loading and rrovid ss for putting a checl
on fees and salaries o. officials. Ii provide
aleo for securing divic ends earned to policy
holders in mutual life companies. There |
a provision also eyetaptinE insurance eun.
panies from taxation
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NFU' PIn (DHHTSSJnEFRS