Polk County observer. (Monmouth, Polk County, Or.) 1888-1927, 1906-11-02
NEEDED LEGISLATION.

Inc cheering news comes from Port
land that the business men Of that
city are again preparing to lead a
movement for needed insurance legis-
lation in this state It is reported
that some of the largest firms in the
metropolis are now bestirring them
selves and making plans for changes
ln existing insurance laws which will
work for the general good and con-
venience of the people. Plans are
being laid to secure a law that will be
fair and equitable to insurance com
panies and property alike, and
a Dill covering the desired changes
Will be presented to the next legis-
lature early in the session. The pro-
moters are confident that the
legislature will come to the relief of
the people and that the old statutes
now governing conditions in the state
will be amended or repealed.
1t will be remembered that a similar
request was made by the business
men OF Portland two years ago, but at
that time no relief was granted by the
lawmakers. Conditions have changed
greatly in two years, however, and
public sentiment in favor of a better .
insurance law, influenced largely by
the results of the San Francisco
disaster, has grown SO strong that the i
Legislature will hardly care to dis .
regard it. Events of the last few y
months have brought the people of q
oregon to a realization of the fact that v
a better insurance law is vitallv n
necessary to the business interests of f.
the state y
In connection with the changes that a.
are being planned, it is probable that
Ihe repeal OF the law requiring in
companies to deposit 100000
before they can do business in the
state will be asked. This law was W
doubtless intended as a protection to
policy holders, but experience has
'roved that it is of no value to them
ma that 1t operates to the advantage VI
I tne wealthy companies by keeping ~
1any smallerbut reliable, companies w "o
ut OF the field. While this 1850 900 M.
eonle II is nrohahls 49,, ~ ~ OA0 dit
ollcy- in thousand has ever ~
'ad 1t or knows what its provisions lui
,ally are. no.
The writer will confess that he had 7Pe
ever read this law until the failure ma
one OF the companies in which he a
as carrying insurance had been an SUI
Failing to secure from the @n'
mpany the amount OF unearned oon
emlum that was rightfully due him, s0'
ID not being willing to accept the " ~ "
mount offered him by the company 4
settlement, he turned to this D"i
$4,000 deposit" law for protection. a"'
ter obtaining competent legal ad- 80 llie
70 and corresponding with the state 1lv .,
lcers concerning his claim, he found ~, lllli
at 1t would cost more to recover WIZ
der this law than the total amount
money due him. A careful exami-
tton of the law showed that it was
little protective benefit and that it Wei
aid not have been made more favor S
10 to the insurance companies had
y written it themselves. The expert
'e OF the writer has probably been III
experience of hundreds of other pol In Ii
holders in Oregon since the San moor
incisco disaster. Wal
What is needed is a law that will seVe
9 all insurance companies an equal TO IL
W to do business in this state, such ped
lw as has been adopted in New lie
k, New Jersey and other eastern Polk
es, and setting forth the form 1851
Ter which insurance shall be Polk
item. The state should also reserve Sever
right to prevent combinations and the K
troll rates. Such law is badly GROVE
led, and 1t is hoped that the legis- he
re will give the law proposed NV IndeE
Portland business men its most ln the
lest and thoughtful consideration. He
living
ood River apple growers have loah(
I 4