The San Francisco call., 1910-02-20

Noif- The report is a volume contain
ing $50 pages OF compilations of fig
ures. expert comment on the insurance
situation and suggestions for improve
ments- The returns shown are, neces-
sarily. for the year 1908. but the com
ment applies often 10 the present situa-
uon I'm insurance. and is based on
thoughtful consideration Of insurance
problems. In every way the report is
credit TO the commissioner.
Following are given important ex-
erpts from the report. forming a con-
nected story of activity in the realm of
insurance, and presenting the comment
Of Commissioner Wolf:
In detailing the number Of com
panies authorized TO transact business
I'm the state during the year 1905, it
should be noted that while the reports
hied by companies correspond with the
calendar year, the period for which
certificates OF authority TO companies,
agents and such brokers as are re-
Quired by law 10 be licensed, extends
from July 1 10 July l.
The total number Of companies
authorized TO transact business during
The year 1908 was 2l2. OF these. III,
licensed for the period ending July 1,
1908, were relicensed for the period
ending July !, 1909. Nineteen new
companies were admitted during the
year 1908. OF these 13 were admitted
prior to July 1 OF that year. and their
certificates Of authority were renewed
for the year ending July !, 1909. Six
Were licensed subsequent to July /,
fec eF af Z
the period ending July I, 1909, were
issued. Three companies formerly
authorized 10 transact busines made
application for new certificates Of
authority, and have been relicensed for
the period ending July I. 1903 Seven
teen county mutual fire insurance COM
panies also transacted business.
OF the companies authorized. 116
were IRE and marine. So transactlng
IRE business only, 20 transacting ma
rine business only and Il transacting
both IRE and marine business OF
these. two companies were organized
under the laws Of California, II under
the laws Of other states and 81 under
the laws OF foreign countries.
Five marine companies not comply
ing with the special deposit law closed
out their California business and fled
statements accordingly.
Thirty-tWo companies transacted life
business on the legal reserve plan and
one transacted new life business on the
assessment plan. OF the legal reserve
companies, three were organized under
the laws OF California and 20 under the
laws Of other states of this country
Forty-1lve companies transacted mis-
ceIlaneous business; &c transacting ac-
cident business. Is health insurance
business ID liability, u fidelity and
surety, plate glass. six steam boiler,
two sprinkler. six title. l3 burglary,
seven wOrkmens collective. two credit
Indemnity and two livestock Insurance
business. one Of the latter being an as
sessnent company
During the year. 81 licenses were as
sued 10 brokers under the provisions
OF section 5S6 Of the political code,
authorizing them TO write surplus
line" insurance business.
TWeuty-thTee licensed TO July I, 1908,
ac1 not renewed.
Twenty-four licensed to July I, 1908
ard renewed TO July /. 1909.
Seven licensed TO July i, 1909.
Acc0rdiug 10 reports fled with this
deg rtment. "a confined their business
70 tlre Insurance, three transacted both
Gre and marine and 10 reported no
business
PBESfsI u INCREASE AND DECREASE
The reports hled with this Office show
E large decrease in the receipts from
fire premiums. The companies reports
indicate a decrease Of s1,199 4S2.55. and
the returns made by the brokers licensed
10 place business in unauthorized com
panfes. generally known as surplus
line" brokers. show q, decrease in pre-
lniUms Of s73,566.1e.
While a certain portion OF this de-
crease may be attributed to business
conditions, it is undoubtedly true that
rates which were raised subsequent to
The confagration in San Francisco
throughout California generally were
n ET1nPfSon MI
naturally large amount Of fire lnsur-
ance is written the return of the large
mercantile houses to well equipped
buildings and the re-establishment Of
practically normal conditions made it
unnecessary for merchants TO carry
such heavy insurance. and as the FIRE
hazard was greatly reduced, the com
psnies reduced rates upon the insur-
ance carried.
IN the marine business, while the pre-
niUm receipts reported by companies
authorized to transact business show
a decrease Of S20.671.I5, the surplus
line" brokers reports show an increase
in premiums charged of 25,926.S0.
The ordinary life insurance business
shows an Increase in premium receipts
on new policies and renewals and the
amount IN force and the number of
policies In force, with "A decrease in
payments for death losses and endow-
gnents.
The returns on the Industrial life
business show an increase in number of
policies written, but a decrease in the
amount written, indicating that new
business was for small amounts.
There was. however an increase in
the number Of policies renewed and in
the amounts represented thereby in
the amount of renewed premiums and
p consequent increase in total premium
receipts for this branch Of the business.
The health, accident. liability, fidelity
and surety, plate glass. burglary and
theft sprinkler. livestock and county
mutual fire business all show increa ses
I'm premium receipts, while steam boiler
credit Indemnity and title insurance
show decreases in premium receipts
PREMII Ms RECEIVED-L0SSES PAID
The total premiums received and
losses paid by all the companies trans
acting business in the state during the
year. according TO the reports filed
we're as follows:
Premiums losses
Received Paid
r-ir. ...... SI4, ,442 62340 s.. .345. .9SS. 80 /
I.rfne .... l. S54 S61.O7 994. .4S7. -
Fire 60. mutuaisl 3zse4Z2 I9e6s4o
lfe Ordinary -.-.. ilSsA9Vsz6 4-.s43,s535-o4
Iile ondustriail s2y so9.d5 2z9.sS9-ss