Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1910-01-31
S0U|RES TELLS OF
BUREAUS OPERATION
Furnishes "The Insurance Press" With
Information on the Years
Work in Utah.

The following Is an extract from the
yanIv NV Commissioner of Insurance
George 3. Squires to Franklin webster
editor of The Insurance Press OF New
York. in answer to questions submit
ted to Secretary of State c. s. Tingey
and by him referred to the insurance
department;
The most important feature OF super
vision In Utah during 1909 was over the
general condition of the insurance COM
panles operating in the state, With
special reference to their ability to
comply with the very stringent require
mcnts of the new insurance law. re-
garding the amount OF capital and sur
plus held by them. A number or the
companies were unable to come up to
the standard required. and were there
fore debarTed from the state. This ac-
tion was not taken. however, until am
pie opportunity had been given the
companies concerned to reach the pre-
scribed requirements. Only after all
such efforts had failed, was action TAX
en- excluding companies from the state.
The work named was the most direct
and important performed by the de-
partment. and secured definite and i'm
mediate results, Much other work OF
supervision was done, most of the mat
ters involved therein being still pend
Ing. This includes the investigation
of surplus lines" the work of unau-
thorlzed companies and agents, and the
supervision of the work of certain
agents and results from these elements
of the supervisory labor of the depart
ment can be expected in the near fu-
turc.
/ think the most important work, as
a whole. done by the insurance COM
missioners OF the states in 1909 is the
forwarding of the great movement to-
ward uniformity in legislation, in
blanks for annual reports. In valuation
OF securities and kindred matters. 1t
seems to me that the value of this
work lies In two directions In the
FIRST place. it will ultimately result III
much more uniform and satisfactory
supervision OF companies. Second. II
viii, tend to n great extent to forestaE
the tendency toward federal supervl-
sion of insurance, which In my opinion
IS not desirable.
4 fow rulings were made by this de-
partment In 1909. Among them being
the following: 1t was ruled that fratcr-
nal orders are amenable To certain sec
tions OF the law. such as the section
prohibiting special contracts" and the
like; and the section declaring that
suicide shall not be n defense after the
first year. As n result OF this ruling,
all policies and certificates OF life in
surance issued in Utah after Dec. 81.
1909, bear on their face the statement
that suicide shall not be used as a de-
fense In resisting any claim Hereunder
after one year from their date This
Includes the contracts of all old line
companies md assessment associations.
Another ruling made by the department
was to the effect that discretionary
power is vested in the insurance COM
missioner to cancel the license of any
agent found guilty of improper prac-
tises. whether criminal action is taken
or not
/ know OF few firms or individuals
that claim To have been under the nee
ezssity OF seeking outside insurance
during 1909. There may be others that
/ am not advised OF. am inclined to
think that most OF these have been
actuatcd as much by a desire to get
Insurance at lower rates as by the idea
that they could not get protection from
regularly licensed companies. No agent
has been licensed to procure this in
surance, as required under section 21 OF |