Evening star. [volume] (Washington, D.C.) 1854-1972, 1907-03-03
ADDITION TO REPORT
FURTHER STATEMENT BY SUPER
INTENDENT OF INSURANCE.

Thomas E. Drake, superintendent of in
surance Of the District, has submitted the
second part of his fourth annual report to
the Commissioners. He states that all
fake fire insurance companies have been
driven from the community through inabil-
ity to obtain licenses, and that the local
policyholders are better protected than ever
before. His report deals entirely with fire
insurance transactions during the fiscal
year ended June 80. 1906. The superintend-
ent says that nine companies were licensed
for the first time to do business here dur
ing the year, and Ill companies were re-
licensed, making total Of 120.
The total receipts from the time of the
establishment of the department of insur-
ance, January 1, 1902, to the close Of the
last fiscal year are shown to have been
$296 ,52651, and the total expenses includ-
ing cost of furniture during that time. $780,
81. 40. the excess of receipts over expendi-
lures being $256,6s4.O2. The increase in fire
insurance premiums paid in the District
19O2, amounted to $780, 10.
Number Of Licenses.
In part, Superintendent brakes report is
as follows:
During the calendar year 1905 81 IL
censes were issued to insurance companies,
assessment associations and fraternal bene-
fetal associations, and 1895 licenses were
issued to principal agents, solicitors and
brokers, Ill of which were assignments for
the unexpired term, making total 1882.
This shows an increase of IL licenses is
sued to companies. but shortage of 80 in
totals to agents. Heretofore assignments of
licenses, although having to be rewritten
under new numbers and in the names Of
new agents, have not been taken into con-
sideration, which accounts for the shortage,
although there was, in reality, an increase
of in Industrial solicitors licenses.
During the calendar year 1905 total IL
cense fees collected were $16,37O.94. Taxes
collected during the same period were $685.
5665s. making total $75, 937. so. Total amount
of premiums paid during the calendar year
1905 to the insurance companies referred TO-
that were licensed to do business in the
District on December 81, 1905, was $S13,-
1879, which was an increase over the pre-
vious calendar year of $2O,772.6S.
Losses during that time amounted to
STAG, 6O4.O5, which were less than the pre-
ceding calendar year in the amount Of $92,-
O549s.
1.-THE amount of premiums paid in the
District for insurance of all kinds during
1905 was $4,S13, 97236. Losses paid by all
kinds of insurance companies amounted to
81 ,621 ,234.O9 The amount of insurance writ
ten during the year was s151 ,O41 1866
Assets of Companies.
1.-THE assets of fire and marine insurance
companies transacting business in the Dis
trict on December 81, 1905. amounted to
1884 O44 O70 40; liabilities s194, $40 $685.; sur
plus, including capital, $3.50, aga, 506.S6. The
assets of all insurance companies transact
ing business in the District on December
81 1908, amounted to So. O7S, 1856 227.97 liabil-
tiles, 81 4S5, 745. so; surplus including cap
ital $500, 621 O45.3 49,
Mr.. Drake concludes his re. ort by renew
ing his request of last year for the appoint
ment of an auditor for the insurance de-
partment, contending that until such is pro-
vided it will be physically impossible to
issue reports promptly. He also states that
the new laws governing the companies have
resulted in much good. when the de-
partment was organized the District was a
place of refuge for many irresponsible in
surance companies. BY the rigid enforce
ment of the regulations they have either
been wiped out or brought up to the stand
ard.
The superintendent declares that the in
terests of the policyholders in the District,
who were carrying insurance in ninety-one
companies licensed here, and which were
doing business at the time of the California
earthquake, were so guarded that no loss
occurred to any of them through that ca
lamity,