The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1910-01-04
INSURANCE AFFAIRS
ARE IMPROVING
STANDARD PROVISIONS AS TO
LIFE POLICIES ARE EFFECTIVE
OVER THE STATE TO-DAY.

buNHIl's OhId., Jan. D.. nat III sur
anCc conditions have improved ma
tcrially In Oklahoma during the last
year and that the outlook is even
more promising for the ensuing year
is the statement OF Milas Lasater,
state Insurance commissioner of Ok
lahoma There is no law in this state
that provides for fire insurance com
panics to report losses to the state
insurance commissioner, but Mr. Las
alter says that as general thing the
companies enjoyed a considerable in
crease during the last year. and from
reports available 1t is estimated that
the loss ratio during the year has
been but little in excess of the aver
age.
\ new law in practically every line
of insurance except fraternal has
gone into effect during the last year
something like seven different acts.
The life insurance act. which took eff
feet March IL, last is an adaptation
of the best idea in insurance lcgisla
tion a tried out in many states dur
ing the last few years. II cmbodies
many of the ideas to effect correction
of different lines of business. the need
of which was brought out through
insurance Investigation originating in
New York This is peculiarly true as
regards life companies. The law also
embodies. with some minor changes.
the recommendation made by the
convention of insurance commission
ers in Chicago two years ago, when
committee of fifteen was appointed
visions for life companies.
On Jan. | the standard provisions
and prohibitions in life policies go
| into effect. This law makes the
standard basis OF policies liability in
Oklahoma the American experience
/ table OF mortality and 3 IL per cent
int rest. 1t also makes this the basis
/ as To loss and surrender policies,
1 compelling companies to make settle
ment on the same ratio as II the pol
/ icy had matured. Life companies
may us in Oklahoma the one year
preliminary valuation modified on the
twenty payment life basis.
The new law in regard to lre com
panies went into effect March %
last. An Oklahoma standard form foI
business was adopted It is practical
ly an exact copy of the New York
law II also provides that forms foI
other lines of business mus be- ap
proved by the state Insurance com
missioner
Outside the law onectuS policy
contracts new important feature is
the enactment o; the resident agent
law. which recognizes only licensed
r, sidCut agents for foreign companies
BASED ON this Law, a ruling of the
insuran department Is to the effect
. that tIc entire commission on any
piece of business shall be paid to the
agent writing the business. This Is
/ to prevent the splitting OF commits
SONS.
In accord with any Discrimination
idea growing generally over the coun
try. and in keeping with the anti
/ trust laA OF Oklahoma, The insurance
/ department has taken the position
that company doing business in
oklahoma must uniformly apply IL
schedule OF rates without discrimina
tion This IS in line with action in
Texas. Missouri and other states tC
create rate making bureau
The insurance commissioners re-
port cites the companies originating
at the present time preparatory to
taking out license, including three
life two surety and bond and one
stock fire. all with considerable capi
talilation. All are trying to effect An
organization tl do interstate business
Insurance laws purpose to make such
requirements OF domestic corpora
t.ons as will enable them to compete
ON an equal footing with such corpor
itiOns in other states
>-~~~-~s~~~~~~-~~~@~-~~- ~-~->~~>>~~~~~~~~~-~-~s
ness of our claim in every partic
ular ana We oer no reason why
any one should hesitate 10 aCcep
our offer and try IL, We have tw,
sizes of RcNall Mucu-Tone. prices
50 cents and Sl0O. Sometimes ;
90 cent bottle is sufficient to Civ,
marked relief. As general thinl
the most chronic case is relieve;
with an average of three large bot
ties. You can obtain ReXall Rene
dies In Ardmorc only AT our store
M. a MT.