Arizona republican., 1906-02-03
INSURANCE
 REFORMING The Work of the Chicago Convention Closed
Among Other Recommendation Is One That There Be a Standard Form of Policy.

Chicago, Feb. 2.-Delegates to the national insurance convention embod- fed today the results of their two days of deliberation in a set of comprehen. sive resolutions, which were 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 to express an opinion on a matter recommending legislative ac- tion until after the presentation of the Armstrong committee report.
 The future policy of the states and territories represented in the conven- ton was committed to a committee Of fifteen members, the power being given to the committee. however, to enlarge its membership as it deems proper. This committee is to prepare a report which will be submitted at 3 meeting which will be held at the same time as the next meeting of the nation al insurance commissioners which will be some time in September. E. M. Wolf is a member of the committee. In the resolutions adopted the system of life insurance commonly known as
 
 demned and declared to be unjust in operation. An annual accounting of the surplus funds in the hands of in~ surance companies was endorsed, and the convention declared for a plan for | the government of mutual insurance companies whereby each policy hold CT shall have a more direct voice in the management of the affairs of the company. The matter of the invest ment of the funds belonging to policy | holders and in the hands of the insur- ance companies cannot. in the opinion of the convention, be reduced to a uni form basis and must be governed with reference to conditions. A standard | form of insurance policy to the exclu- sion of all other forms. to be adopted by state legislatures, was declared ad- visable.
 On the other matters referred to the committee on resolutions action was deferred for further consideration. Al ter the adjournment of the convention 1 Insurance Commissioner Drake of tho | District of Columbia, at whose instance the convention was called, said tha 1 everything that could be desired had been accomplished. At best" ne said | 'all that could be hoped for at thi: gathering was work of a preliminary character and that has been done. A the adjourned meeting I feel confiden the fruits of our sowing will be reap ed. I consider the outcome very satis factory"
 California, Colorado. Oklahoma Washington. wyoming and Hawai- were among those who voted for tn resolutions and the vote of Kansas Wal negative Immediately after Che adop ton of the report the convention ad journed to meet at time and plac' to be determined by the executiv' committee of insurance commissioners the convention to be held at the sam time as the convention of the nationa insurance commissioners. The tim and place of the latter convention i now set for Washington in September but both time and place are subject t change.
 The committee of fifteen which i to prepare the report on proposes changes in present insurance method will report at the meeting to be hell hereafter