The Bennington evening banner. (Bennington, Vt.) 19??-1961, 1906-02-05
REPORT ON
INSURANCE
Committee Would Sweep
Away Old Methods.
ENTIRE REFORM system
Nais Inspection sa,i Be More
fsslov and sisld-pubIoiy
. kyneis

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sisiisa sff stsssaEsad b sEy STATE
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sitasi efea - - sac ffrssat usas psss
sesasiisd H b aatsssss.s. % Msssss
AaEtss. MfA-se sd fissaiaf. cesnssi
~ ths fafstsiifss. shd Easlf sssssisfns
To asaf lrgesanseissisas asds sss
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aeamiiias
Iyas STATE insafenos dsssaFtmsat 10
80 sssisasif disfusi.ui - ne Fspofs
The superintendent. pish Me dsputiss
std sssistaasss is permitted % coasfpi
Sc ihsffehoe Foansnies ss BOZ. save
itsi si'ssiuis snd sisafgss sufsstisioa
isTesu'fai ~ fss dssssFttssnt
Ilsr iesisisiufs -iii i.s ssted 10 pss.
iass ilst siii easifsif Fefafm The sysi
isti thsf hss t.Fstsiied h tie I'd cotn,
pshiss stsminad rui.iicisf 10 ne ksi
nsss sifust ia sii So fecosnmspdstioas
nisds TIE state fsf.sFttasut mnsi ~
tHass sesioas. shd sisndsfd fafsns u
poiiFiss sp 10 b. rasns-d. pividspds
aust b. paid snnuaily. snd dcsth
r.siins mns; b. settled uithin thirty
LAY. ~ prsrf Msuy radical ehsnses
Ia ths plans ~ muiusiiEs,ioa are TO-.
smtnsndei
Salaries sv r. b. rui down. and The
es.srtics q family trusts Hks those
formed - lb- MsCuniys aud others
all no ioager - possible " plans pro
posed ~ ,hs coinmiiie- are Pot Ia Of
feet
The principal rsforD demands are ss
follows.
Tho method u coslducting Insurance.
business IL altered. but the once u 80.
pefinienicnt q Insurance IL not sbol.
lsh.i. and the organisation q the OF
ace 10 preserved.
STANDARD forms Of life insurance pol.
Ieiss are provided for. cquslifing all In.
surancs Ia The state. while bonuses and
rebates arc forbidden under severe pen.
aities.
Agents are placed under strict super
vision. aud their compensation must be-
,ithcr full salary or commission. mixed
being forbidden.
Life insurance companies are forbid
len 20 control subsidiary companies.
ind their officers may not be stockbcld.
'rs In such companies.
State supervision Of absolute charsc-
or Is provided. and publicity OF all ac-
cunts. expenses and holdings OF every
nature IA made obligatory.
Reform In investments IL provided
or. but no attempt is made TO debar
ompanies from holding safe stocks.
Universal naturalization Of companies
: advised and encouraged and provi-
Ions made for converting stock compa-
ies.
Open elections. fair ballots and a full
nd fair representation ut annual cleo
Ions Is provided for and ballot box
tufling forbidden.
Surplus must be apportioned among
he insured each year, and the present
lea OF deferred dividend Is made Ille-
al, while payments upon death are d.
aotad within thirty daya
Methods OF bringing suit are provid-
4, and all literature must be submit
"a TO the superintendent of insurance.