Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1908-01-22
BEekRTiNe INSURANCE COM
PANIEs SOUGHT TO BE
DRIVEN OUT"
SECRETARY OF STATE FREAR
SHOWS NEW LAWS TO BE
WISE ENAcTMENTs.
ADVISES HOLDERS OF POLICIES
NOT TO GIVE UP THEIR
CONTRACTS.

Eau Claire, wis, Jan 16.-The an
nual convention of the Society of
Equity was held here yesterday and
was addressed last evening by Secre-
tary of State Frear. His address was
devoted to legislation past and fut-
ure and its relation to the citizen.
The effect of the recent railway and
public service laws were discussed
81 the speaker who also referred to
the original granger laws and the
forerunners of mo 'ern railway legis-
lation. The recent Withdrawals of the
insurance companies from the state
received particular attention.
no company had been driven
from the state" he declared . 1t with
drew because it was losing business
and used this for an excuse OF else
1t refused to obey laws for the protec-
ton of its policy holders, which laws
are now being observed by the North
Western, New York Life and the Pru.
dental. Aetna and other great COM
panies. These companies carry two
thirds Of the insurance of the state.
He spoke in favor of life Insurance
and also advised policy holders in
the Withdrawing companies to hold on
to their policies. Secretary Frear
was chairman of the joint Wisconsin
Insurance investigation and also chair
man of a state senate committee that
Investigated the subject of state in.
surarce.
None Driven Out.
The withdrawal of Is Insurance
companies from Wisconsin," said Mr.
Frear, 'is significant of the states
helplessneSs to protect its own policy
hclders, but the fact that a majority
OF the companies carrying two-thirds
OF the Wisconsin business are contin.
uing their business, is complete ans.
wer to the withdrawing companies.
No company has been driven out by
unreasonable laws.
For months the legislature listened
to a powerful lobby of insurance men,
and then passed laws to meet Ger.
tain evils; evils existing among the
Withdrawing companies; evils not per-
mitted under the new laws. If these
laws prove to be unavoidable or un.
just in any particular, they should be
amended, but they should first be
given fair, honest trial, the same as
as done with the New York laws
which were equally Objectionable to
the Insurance companies. After sew
eral months of waiting, the comUanles
demanded an extra session of the
legislature. When this remarkable
demand was refused by the governor,
Spectacular notices of withdrawal of
d few companies were published, fol-
10 ed by attacks through the press
sondemning the insurance laws and
tbs legislature responsible for them.
ssrhe committee, like the legislature,
mad no interest to subserve but the
public good On the other hand, In.
suianee officials are not always PEI
sonally disinterested. For example,
Ia one of the most conservative in
srrance companies, the officers in
creased t.leir own salaries 141 per
i cent. in ten years, yet the business
increase was only 108 per cent. during
the time. This liberality of officers,
with policyholders' money is very
noticeable in companies, and pre-
vents disinterested opinions they
might otherwise offer on the subject
of state control.