New-York tribune., 1908-02-03

n most seTeTeT the Of the COM
pany. with The exception Of the actuaria depart
ment The facts stated in these reports. IL correct.
Conducted by Mr.. vanderpoel. under Superintendent
s the Tssor & The OF a TnSn o wien Mt
took office, practically worthless uns. Rep.
If there had been any systematic effort on the part
OF the New York department. TO seep in touch with
frequent intervals after MAY H. 1905. precaltion
surely as important as the frequent inquiries into
panies after the San Francisco fire. many OF the
matters criticised might have been prevented
discovered and corrected months before the begin
ming of this examination
GENERAL REMARKS
During Mr. Kesey's administration many ques-
mittsd to him and his sdvisers such as the super
vision of the insurance elections. the standard
surance laws The San Francisco fire and the inn
the Provident savings and the Mutual Reserve.
Other questions of great importance viii naturally
of dividend contracts by business assessment as
nails step which the leading men in the DEPART
ment agree is advisable. should be accomplished
If possible The examination OF the assets OF in
surance companies prior to Incorporation viii have
to be more Tigid IN N 9rdeT tnt Gondit6ns M ion sGeh a.
Fire Insurance Company may not be repeated Steps
that the company examined by the department
pay the expense Of the examination. and 70 secure
policies with level premiums and no right OF as
and not as one year term assurances Many OF
the requirements of Section 103 of the insurance.
law should be extended to all classes OF Insurance.
COMPANIES The vital matters arising in e9nnec-
ton with the valuation OF securities which The e.
cent financial crisis mas emphasized most forcsoVs
and the question OF amending the standard form
of fire insurance policy. will require the
ful and thoughtful attention
In these and matters OF similar nature in
spect may accomplish much for the benefit OF both
the companies and the policy holders not only oy a
considered recommendations OF changes in tho
same made after thorough and intelligent in
surance. where the nature OF the subject and the
officers and actuaries make it extremely difficult
and at the same time promote sound and health
full growth. Such "A department. could further rem
der a service OF ircalcuIabie value by examining
poliCyhOI,iers and the companies. such the
matters of divide nds and apportionneni OF surplus.
While part OF the difficulty here has been due 20
unwIse agitation. much Is also attri6utable To an
honest belier ydat some companies take unfair ad-
vantageS in these II alters; and an insurance de-
could undouotedIy BRING ABOUT hrtter uld,Istahd,
ing between tte insured and the Insurer 10 could
uniformity OF legislation the different states.
and so save the Companies MES and tne p2,isy~nolaer ~
conflicting laws imposing ourdensome taxation ana
urwise regulations which the yar0us S'a,s w.
flows or the recent CorlrIs~ion on Revision OF
I,Sn,, I,or Tvs 10 authorize the superintendenc
either take direct charse Of t1S0lvent Insurance
o,onai banks are appointed n This is done. how
ever there should be- strict limitation or the COM
rcnsatIo0 of both receiver and counsel
While II NAV be difficult % secure thu services
# those atted Ill the most nru"rtant positions
and the sdvisablItv Of increasin- the salarte. o.
the Suneriatendeut and actuary - corlUended 10
the attention % the IePislature-th~ Nevf f0rk De-
partlent should certainly take the lead ~ al such
matters as the above II shcaid not wait fo- ,ne
Kentucky and Color9,iO to ac- first IN such mat
most respects ample and proper appropriations for
its expenses should not be difficult 10 secure