Omaha daily bee., 1906-02-03
UNIFORM POLICIES
Insurance Convention Recommends Some
Changes in Laws and Adjournl
STANDING COMMITTEE Is APPOINTED
IL VIII Consider Further Action
That Way he Desirable and
Report TO Meeting In
September.
STANDING COMMITTEE IS APPOINTED

CHICAGO. Feb. 2.-Delegates to the ma
tonal insurance convention embodied to-
day the results of their two days of
elaboration IN n set OF comprehensive
resolutions which was subscribed to by the
convention as a whole.
Six states voted against the adoption of
the resolutions and twenty-three voted in
the affirmative The state of New York.
which was represented. did not vote, its
delegates declaring that they did not care
10 express an opinion on matter recon-
mendine legislative action until after the
presentation OF the report of the Armstrong
committee
The future policy of the states and terri
tories represented in the convention was
committed to a committee of fifteen mem
bers, the power being given TO the COM
mittee, however. TO enlarge its membership
as 1t deems proper. This committee is to
prepare a report which will be submitted
at meeting which will be held al the
same time as the next meeting of the
national insurance commissioners, which
will be some time in September in Wash
ington, d. C.
Executive Committee Appointed.
The membership Of the committee as at
present composed is as follows:
II. r. Prewett. Kentucky; r. L. Folk,
kentucky; T, Z: Drake. District OF Co
lumbai W. D. Vandiver Missouri: f. NJ.
Wolf California; A. l. Vorys, Ohio &. +.
Grouse, Maryland; Z. D. Brien. Mime
sofa; u; NJ Host Wisconsin; Il. F. Carroll.
iowa; j. l.. Pierce, Nebraska; r. T. Young,
Bird, Michigan.
Governors Beckhsm of Kentucky, John
son of Minnesota. Davidson Of Wisconsin,
Elrod of South Dakota Searles of North
Dakota and Cummns of Iowa. who were
advisory members of the committee.
In the resolutions adopted the system
of life insurance commonly known as the
deferred dividend plan was condemned and
declared to be unjust in operation.
Accounting for surplus.
An annual accounting of the surplus of
FUNDS OF insurance companies was endorsed
and the convention declared for plan for
the government of mutual insurance com
panies. whereby each policyholder shall
have more direct voice in the manege-
ment of the affairs of the company. The
matter of investment OF the funds belong
ing to the policyholders, and in the hands of
the insurance companies. cannot in the
opinion of the convention, be reduced to a
uniform basis and must be governed with
reference to conditions. A standard form
OF insurance policy TO the exclusion of ali
other forms, to be adopted by state legis-
latures, was declared advisable.
on the other matters referred to the COM
mttee on resolutions. action was deferred
for further consideration.
After the adjournment of the convention
Insurance Commissioner Drake of the Dis
trict of Columbia, at whose instance the
convention was called, said that everything
that could be desired had been accom-
plished. AT best he said, "al that could
be hoped for at this convention was work
of a preliminary character, and that has
been done At the adjourned meeting. |
feel confident, the,,fLiIits of our sowing will
be reaped. consider the outcome very
satisfactory"