Rocky Ford enterprise., 1908-03-13
INSURANCE MATTERS.
culled from the March Department
Bulletin.

a number of inquiries have been
received regarding live stock insur.
ance. There is but one company au-
thorized to do live stock insurance
in this state. and that is the Indiana
4 Ohio Live Stock Insurance Com
pany OF Crawfordsvilie, Indiana.
The Department has been advised
by the Attorney General that !, Is
without power TO issue certificates of
authority to foreign assessment hal!
insurance companies. and there. are
now no assessment hail insurance
companies doing business in this
state.
The attention OF the public is again
called to tho urgent necessity for es-
tablishing 4 minimum standard OF
fraternal insurance rates that will
permit proper reserves based on the
actual mortality experience to be ac-
cumulaicd TO protect death certif-
Gates aud insure their payment when
due. A number OF the legitimate
iraternals have already increased
their rates-a few OF them to the
safety point-and several OF them
have gone part way and expect TO
reach proper level OF rates in the
near future. Members of iraternal
orders which have not adopted at
least the National Fraternai Con.
gress tables must not deceive them
selves by concluding that an advance
is not necessary, on the theory that
the reserve can be held in the
does not base its reserve upon safe
mortality tables Is doomed to failure,
and the officers OF these orders who
arc urging their members TO supper,
them in increasing rates TO a proper
standard should receive the hearty
cooperation OF every member. There
are over eighty thousand people in
Colorado with fraternal fife insur-
ancc.
II is nothing shor, OF a crime to
permit iraternal insurance orders to
go on without laying by a proper
reserve, based on the wcil-known
laws OF mortality. II is the most
unjust discrimination 10 protect the
holders OF old-line life insurance pol
icies. by requiring proper reserves 10
be placed behind them. and to leave
the holders OF fratcrnai death ccrti-
keates unprotected by such reserves.
The National Fratcrnal Congress
and the Associated Fraterni,ies have
agreed upon uniform ira;ernal in
surance bill. based upon the cSper.
icncc OF iratcrnal orders, and an ef-
for, is being made to have this
standard used as a basis for uniform
legislation in all the states OF the
Union.
The attention of members OF fra
tcrnal insurance orders in this state
is called to the fact tina; number
OF irresponsible and questionable
concerns arc soliciting business be-
cause OF the fact that the laws do
not give the Commissioner authority
to investigate or regulate this class
of fratcrnai insurance organizations
II is entirely beyond the power OF
this Department to eliminate the
evils resulting from the indiserimi.
nate admission of alleged fraternal
insurance orders in this state. and Il
is to the direct interest of every cit.
izen to use his influence in securing
this protection from the next session
of the Legislature.
The following companies have no,
applied for renewal OF their author.
! ity to do busincs in this state during
1908: Securing Life Insurance Com.
Western Acciden, Association. De.
Moincs. Iowa: Security Life Insur
ance Co, Binghamton. N. Y; Rc!i.
ancc Life Insurance Co. Pittsburg,
Pa; Providcns Savings Life Assur-
ancc Society. New York: Southern
(Firc) Insurance Co.. New Orleans;
Employers Liability Assurance Cor.
poration. London.
Companies for which authority for
1908 was refused by the Department:
Des Moincs Mutual Hail Insurance
Association. Dcs Moines; St. Paul
Mutual Hail and Cyclone Insurance
| Association. Minnesota.
Authority revoked: Maryland Cas-
ualty Company. Baltimore.
Rc-insured: Indemnity Fire In
surance Co.. New York. in the Nor
witch Union Fire Insurance Society:
National Mutual Fire Insurance Co.,
Denver. in Ohio German Fire Insur-
ancc Co, Toledo: Eagle Fire Co.,
Brooklyn. N. Y, in North British &
Mercantile Insurance Co.
Companies admitted: North Brit
ish & Mercantile Insurance Co. Of
New York; Queen City Fire lnsur-
ancc Co.. South Dakota.