Omaha daily bee., 1909-04-25
STATES PROFIT
FROM INSURANCE
Nebraska's Treasury Enriched to the
Amount Of $5S9, 3O7.s7 in
Last Six Years.
SIXTEEN THOUSAND LICENSES OUT
Insurance Department of the State is
Poorly Equipped.
ANALYTICAL STATISTICS LACKING
ANALYTICAL STATISTICS LACKING
Economic Importance of ~Inurance
Bushes is Tremendous.
FIGURES ON FIRE, LIFE, ACCIDENT
Nebraska Life Companies Are Crow
ing In Encouraging Fashion, and
the FraternaIs Are Maxi
ing Great Gains.

Fire. life and accident insurance busl-
ness in Nebraska foots up a very sub
stantial total in these later years. At the
present time there are 5000 certificates
granted by the state insurance depart
ment, indicating that many agencies oil
several hundred companies. There are not
that many agents, of course, since one
agent often represents several companies,
and he must have a certificate for each
company represented. Just how many
agents there are, not even the state In
sutHnce deputy can tell; nor can the in
surAnce department OF the state auditors
office tell the percentage Of losses In Ne
brtska to premiums paid. These statements
need some explanation of a peculiar con-
ditlpn existing in this state.
IA the six years preceding 1893 the entire
receipts OF the insurance deputy's office
tothled t19S, 1887. During the same time
the salaries and running expenses of the
office cost the state $3O,5i0, thus leaving
a balance on the right side of the ledger
OF s16s, 223.sI. During the six years since
1903 the amount collected for the state
treasury from fees and taxes totaled
t5eesB47.s7. while the expense was the
same, sS0.54O, leaving a balance to the state
OF 1859, SO7.S7.
once Force Inadequate.
In spite Of the tremendous Increase in
income from fees and taxes, the office
force has not been increased, nor have
the salaries been boosted. The result of this
policy is, that analytical work on reports
Is almost totally neglected. Today there is
pilsd on tables in the state insurance
dephty's office hundreds of reports that
have not been examined or tabulated by
the state actuary, because of lack Of time
on his part and insufficient help at the
time when the reports come in. During the
session OF the legislature Mr.. Virgins, the
actuary, was kept busy looking up infor-
nation OF one kind or another, or making
examinations. The state auditor, very
properly, perhaps, has considered the max
ing of examinations of companies as of
more Importance than the tabulating and
analysing of reports. So the reports await
the day when the state actuary shall have
the time to attend to them.
For the biennium ended December /, 1908.
the receipts OF the insurance department
OF Nebraska were $223, 743. "a, divided as
follows: From fees. $50, 5O2.7 e; taxes from
fire Insurance companies, $23,956.43; taxes
from life insurance companies. SS,sSS.77;
taxes from surety qoGtpaniess $Ss.S1: from
. per cent on sBrDsb premiums, 5S1S,ooV'loi
from 2 per cent tax on surety and miscel-
laneous companies. sls. 761. 81. For the same
period the total expense was; For salaries,
$,6SO; running expenses, $500; total, $l0.1So
Field II Well Covered
On November 50. 1905, the companies doIns
business in this state numbered S46. There
were five Nebraska stock companies
~ninety-nine stock companies Of Other
states, seventy-one mutual fire companies
forty-slx legal reserve life companies, foul
hail and plate glass companies. twenty-fouI
mutual benefit associations, life and
accident companies; fifty-one fidelity
casualty and surety companies; forty-si1
fraternal beneficiary societies.
Risks written in Nebraska during 1907
with premiums received, were:
Fire insurance Risks Prem.
companies Written. Reed.
Nebraska stock COM
panies .............,.,.....$ 69,216,633 ! SZ2,b4
Stock companies other
states .-.,,..,........... ls2, 1889 assess
Mutual companies. ........ b5,66S5H 6S,2
$sO6. sS,Oss @4.44O.4 a
Life, accident and mis-
Cellaneous CompanieS-