Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1910-06-21
WOODMEN LEADS
PROPOSED LAWS
Fraternal Protective Measures
to Be offered in Various
States.
RATES TO BE REGULATED
Insurance Commissioners Associa-
ton Approves Plans Advocated
by Rock Island Society.


missioners held at the Manhattan
hotel. New York, last week, at which
was taken UP all of the matters re-
lating to fire, life and other forms OF
insurance that will be considered at
the forthcoming meeting of the Insur-
ance Commissioners association, Gen
eral Attorney B. D. Smith and j. F.
Egan from the head offices in Rock
Island represented the Modern Wood
men society. The two matters which
interested all of the fraternaf societies
were amendments to the blank form
employed in making annual reports to
the state insurance departments, and
the bill for the regulation of fraternal
beneficiary associations, which will be
presented to the various state legisla-
lures for passage.
The Modern Woodmen society's con-
tentions, both as regards amendments
to the annual statement blanks and
vital amendments to the legislative
bill, were accepted by the insurance
commissioners, and were given the
unanimous support of all the fraternal
interests present. The leading officers
of both the National Fraternal con-
gress and Associated Fraternities of
America. the two international fedora
lions with which practically all of the
fraterual societies are affiliated, were
present and supported the proposition
presented by the Woodmen representa-
tives.
Graded Rates of Assessment.
The legislative bill as framed by the
commissioners contained provisions
that would require all societies to col
lect rates of assessment graded to the
National FTaternal congress table of
mortality. Regardless of the needs of
the various societies, whether their
rates might correctly he high or low
to provide the income sufficient to
meet the obligations assumed, it was
proposed to compel all societies, after
a certain date. to collect fixed rates.
No, means were provided to disclose
the condition of each society or it's in
come needs, but it was held that the
collection of specified rates would con-
stitute sufficient guarantees of safety
to the members. In proposing this
measure, the commissioners had the
endorsement of past action of the Ma
tional Fraternal congress.
The Woodmen proposed to substi-
tute for minimum rates provisions re-
quiring annual valuation and the most
complete publicity, so that the mem
bers of all societies would each year
be fully informed regarding conditions,
and then it was proposed that at least
every three years a valuation of each
societys business should be submitted
to the state insurance departments
and. after a certain time, If any de-
ficiency in the income of any society
was disclosed by valuation, such so
ciety would be required to show on
successive valuations a decrease in
such percentage of total deficiency of
at least per cent during each tri-
ennial valuation period.
Propositions Agreed To.
The commissioners, the representa-
tives of both fraternal federations
and all other fraternal representatives
present, agreed to these propositions,
which were vouched for as being scien-
tifically correct by Actuaries Lands,
Eldridge and Barnard.
On the form Of annual statement
blank, the Woodmen was the only So
ciety which appeared before the execu-
tive committee of the insurance COM
association. It was agreed
that the form of annual statement
should be revised after the current
year and that the form of report of ill.,
come and disbursements should take
into account all primary records of re-
ceipts and disbursements as maintain
ed by the fraternaI associations. The
through their national fed
erations, undertake to supply the in
surence commissioners with complete
report from all societies, showing just
what accounts are carried by each So
ciety, and the commissioners will then
agree on the form of blank and will
also agree on uniform Interpretation
Of the provisions of the blank, so that
the fraternals will be required to make
the same forms of report in all states