The sun. [volume] (New York [N.Y.]) 1833-1916, 1910-05-06
TO WRITE MORE INSURANCE
HUGHES AND HOTORKISS sam
TO NAVE YIELDED.

senate nnI Reported RavOrably IN Accord
Wsth the New York LIES Campaign
the senate Rejects HOtchkiss's
Plan on tho Uniform POlIcy Biii.
ALBANY. May S.-ThS Senate Insurance
COMMITTEES to-day ordered reported the
0rattan bill amending sections % and "
% the Hughes insurance law relative 70
life companies. SsctiOn % 10 amended 90
40 TO permit the large New York companies
thatiars not permitted 10 write more. than
$50 900. 900 new business a year 20 write
a. much more a. they can In proportion
to a reduction In expenses Tor the add
tl0nal business
In legislative orioles Il IL believed that
Gov Hughes and State Superintendent
Of Insurance HOtohkias have oapitulated
10 the New York IAts insurance Company.
which Tor years has been leading the cam
paign 90 repeal ths limitation In the
Hughes insurance code on the amount OF
business companies may write. u is
understood that the amendments handed
to the Senate Insurance Committee by
Supt. Hotohkiss were agreed 10 by the
Governor. who has reversed the position
he has maintained for Ave years.
In his original bill amending Section %.
Supt Hotchkiss sought 20 strike out the
Discrimination in Section %. which gave
the Metropolitan Life. favored by the
Hughes law. an absolute monopoly and
permission 10 write a billion Of Insurance.
while other companies were authorized
to write only iISO.OO0.OOO But the Allen
bill has been abandoned and In the new
section % bill the Metropolitan will b
unaffected and may continue 10 write all
the industrial business Il pleases while
Il can write a. much ordinary business a.
the other life companies.
The provisions Of the section are ex-
tended % out Of State corporations and
the Superintendent gets authority 10
revoke lcenses or refuse 10 Issue new
LICENSES Il tho companies violate the
section in writing more new business than
permitted under the section,
The Metropolitan and the New York
Life are particularly benefited by the bill
since Gov Hughes decided % abandon
public life Mr. hOtChsiss has not been
getting everything he wanted from the
Legislature The State senate to-day
rspudiated a bill drafted by Mr. HOtch-
kiss In violation Of an agreement OF the
national convention og Insurance CON-
misaiOners. which drafted a uniform bill
10 Be passed In all % the States providing
standard provisions for accident and
health policies. THIS bill gave the Su-
penntendsnt Of Insurance IN each State
power 70 pass upon tho provisions Of such
policies. but provided that upon the
petition % the companies the opinion Of
the Superintendent Of Insurance shall
be subject 10 review by any court Of
competent jurisdiction
For some reason Mr. Hotchkiss had
this uniform bill introduced in both
branches Of the Legislature with the night
u review provision eliminated and the
bill passed the Assembly without CON-
ment. The representatives Of the Aocl-
dent and health insurance companies
got busy and they succeeded in having
the Senate to-day repudiafs Mr. HOtch-
kiss and insert in the bill this curt
review provision Ivy a vote of Is tOS.
Eight senators stood by Mr. HOtchdas
The fact that Supt HOtchkiss recently
refused 20 permit the Metropolitan In
surance Company 70 erect a consume
tive saniiarum and that the courts re-
versed his decision and permitted the
company 20 60 ahead and construct the
pavilion was mentioned ~ the reason
why there should he a court review 81
Supt HOtchkisss decision.