Evening star. [volume] (Washington, D.C.) 1854-1972, 1910-01-19
INSURANCE IS TOPIC
Presidents Meet to Promote
Uniformity of Laws.
WELCOMED BY 7: E. DRAKE
Expense of Supervision Deplored by
]. A. Hartigan.
FALLS ON POLICY HOLDERS
L. G. Fouse Declares $50, 1000, 900
Annually Is Wasted Because of
Diverse State Legislation.

The Movement for Uniformity Of
State Laws was the subject for dis
,ussion this morning at the third annual
meeting of the Association of Life Insur-
ance Presidents in the red room of the
New Willard.
Thomas E. Drake. superintendent Of
insurance of the District of Columbia de-
livered an address Of welcome.
Address of Welcome
ION behalf of the citizens and resi-
dents Of the city of Washington he
said. II welcome you individually and as
a body. representing as you do a scien-
tific business Of modern origin that is
now being pursued in all civilized coun-
tries. which In importance and magnitude
is not equaled. i maintain, by any other
commercial enterprise or industry on
earth.
Having served for twenty-five years
in nearly every branch of your business
from clerk In a state agency Office to oc-
cupying an official position at the home
Offce-prior to becoming identified with
insurance departmental work ten years
ago, l trust, with such a varied expe-
rience and familiarity with the field and
office work. you will not think me pre-
sumptuous in stating that in my opin-
perience and scientific principles which
approximates in magnitude. usefulness
and sacredness that of life insurance
The city of Washington is proud of
here instead of New York, your home
city. You should be proud. too. Of your
organization. and especially of having
had associated with you in a business
way that sound lawyer and great states
man who presided over your destinies
from the beginning until his death, and
whom, because OF his probity and fearless
ness In maintaining the stand he took
for time-tried, correct government prin-
ciples while executive of the United
| learned to honor. irrespective of religious
creed or political affiliation. You all
know whom l mean-Grover Cleveland
whose fame will enlarge and grow more
illustrious with the lapse of time
1T is the custom and practice else
where. in welcoming bodies Of this kind,
which assemble in convention to receive
from the one extending to them the privi-
leges of the city. the key to the city in
which they meet. In Washington this
is unnecessary. because this is your city
just as it Is ours. and you are supposed
TO carry a key of your own. which will
admit you to any public place OF interest
which you may wish to visit within the
sure you. you are privileged characters
and most welcome.
Cox Responds to Welcome.
Robert Lynn Cox. general counsel and
manager of the Association of Life In
surance Presidents of New York, respond
ed with fitting remarks. .
s. C. Durham. president Of the Trav-
eler's Life Insurar ce Company of Ameri-
ca. presided at the meeting.
Commissioner Hartigan's Suggestion
Declaring that expense is the only result
. Ia the life insurance policyholder from
the present great dissmilarity of state
supervisory laws. John A. Hartigan, COM
| missioner of insurance of Minnesota
urged that steps should be taken to OBJ
| tain uniformity.
Certain uniform insurance laws exist
In number OF states and certain require
| nents are the same, as for instance. the
| form of annual report" said Mr. Harti-
| gan. but the multiplicity of other re-
quirements is great. almost, as is the
| number of states. This lack of uniform
| ity is exasperating. both to the depart
ments and the companies.
Cause Of Increase in Work.
/ creased and the result OF this work d.
| mands Of different states. A knowledge
of the laws of the home state must be
| supplemented by a thorough familiarity
/ with the laws OF all other states as com
i panies are governed sometimes by the
I laws of the home state and sometimes by
those Of the licensing state A company
/ complying strictly with the law OF one
| commonwealth may find itself, on that ac-
count. lawbreaker in another. AS differ
! ent state laws prescribe different stand
/ ards for admitted assets. the annual
statements show q surprising divergence
as published in different places. IT, for
/ the annoyance caused by this diversity
there were compromising benefits to the
policyhoders. it might be tolerated. but
| of these there are none. The only result
! to the policyholder is increased cost Of
supervision. which increase he must
| bear
Lack of Uniformity Explained.
! After relating various efforts that have