New-York tribune., 1911-03-02
NEW INSURANCE BUREAU
Necessary Under Proposed Law.
Says Hotchkiss.
NO OPPOSITION TO BILLS
Superintendent Favors Extend
ing Anti Rebate System
Gradually.
tsv T.lssrarh 20 The Tribune

q
Albany March The possibility OF ths
organization Of q sepsrste' bureau under
the State Superintendent OF Insurance.
which would make this the largest OF the
state departments, was expressed to-day
by Superintendent Hotchkiss al hearing
before the Senate and Assembly Insurance
committees on two bills, affecting FIRE In
surance companies recommended by 'ths
Merritt legislativs graft investigating COM
rnittee He said such q bureau would be
required " certain cf these measures pe-
came laws There Is little or no opposi-
ton 70 them. 80 indications are that they
will be enacted ~ the present session
These bills provide for The licensing or
FIRE insurance agents after an examination
under the direction Of the Insurance super
intendent and give the Superintendent su-
pervision over rates made by rate making
fire insurance bodies like the Fire Insurance
Exchange Of New York. The latter meas
ure would require the Insurance Depart
ment here 70 give hearings on complaints
Of rates made by such bodies
4 large delegation of insurance men
from various parts of the state vas pres
ent at the hearing. and while thev favored
the general principles I'm the propositions
advanced many suggestions for changes
in details were made Many of thess
suggestions were made by Willis o. Robb,
manager Of the Fire Insurance Exchange
Of New York
OF the other measures discussed 'he iiioSt
inportant probably was the ant-repate
measure Mr.. Rbbb favored this, but thought
that. If it we're applied to fire companies
~ should he extended 70 ell companies, With
the possible exception Of the marine com
NAMES Edward Sanford. representing ths
marine companies said they have 70 com
retA with companies from al over the
world and il would be impossible for the
New York companies 10 stay IN business II
they could not make the Inducements they
do He said that because Of the vast van
etv in boats insured II would be Impossible
10 fx uniform rate anyway. Members OF
the committee and all present, IN fac''
seemed 10 favor exempting marine ccnnpa-
MES from the anti-rehste bill,
gurerinfendent Hotchkss expressed some
doubt as 10 extending n 10 all the other
classes Of insurance companies AL az once
believing that It is a prohibition when
should be introduced gradually. AZ pres
enf the life companies are the only ones
which have sn anti-rebate regulation ana
IN make ~ more effective Senator Iimothy
Sullivan and Assemhlyman Hoey INTRODUCED
= bill. drafted by Mr. Hotchkiss. pro1oihs
that where rebates are given on life poll
ciee the policies become void
Mr. Merritt and Alfred F Hurrell, special
counsel for the Merritt committee. were
present to defend the provisions Of the bills
Mr.. Hurren spoke in favor Of the bill
providing for a state FIRE marshal. and II
was then decided 10 give another hearing
on II next Wednesday Chairman Hoey 81
the Assembly committee rsad a letter from
Fire Commissioner Waldo OF New YORK.
asking that this bin be amended TO MAKE
the New York CITY fire marshal independent
Of the state marshal