The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-04-06
METROPOLITAN L|Ff'S
GREAT SHOWING
Wrote More Ordinary Business in
1910 Than Any Other Com
pany by Twenty
Millions
Company is Highly Commended by
the Superintendent OF Insurance
For Its Progressive Management.

OF unusual interest, in view or crit-
cisms which have In the past ire
quently been made of so-called INDUS
trial Insurance. is the recent report
OF the Honorable William h. Hotch,
kiss. Superintendent OF Insurance Oh
New York. IL Will probably come as
a surprise To many OF our readers lhat
the Metropolitan is not only the lead
ing Company in Industrial insurance
but that during the last year II wrote
practically $3.50 100000 Ordinary IN
surance. the maximum permitted oy
the New York law. For Company
that has been known in the past prlm-
arily as an Industrial Company. this
Is a remarkable showing. III business
written in foreign countries other
than Canada be excluded, the Metro
politan wrote s20,0OO.OOO more Oruih
ary insurance than It's nearest conf
petitor. There are at present over
s70O. 900, 900 Ordinary insurance In
force, and. including Industrial insur-
ance. over s2,215.0 100000. In fact the
Company was compelled TO stop issu-
ing policies for which application was
made during the'las days of the year
In order TO keep within the law.
Mildly speaking. the report Is de-
cidedly commentators In an Impair
tial and judicial manner, Superinten-
dent Hotchkiss expresses his profound
conviction that Industrial insurance
as pracdced by the Metropolitan has
had the welfare OF the policy-holdel .
only in mind, and that the Oticers or
the Company have bent every enoit
TO cheaper the cost OF such insurance
10 reduce lapses, and In general 10
safeguard at every turn the interests
OF their upwards OF seven millions OF
policy holders. The Superintendent
writes almost admiringly OF the reduc-
ton and management expense OF
nearly Z per cent and in the lapse
rate of approximately 10 per cent
Tersely stated. Mr.. Hotchkiss shows
that insurance for the masses Is given
practically at cost, and that the divi
dends to stockholders, limited by the
bylaws OF the Company to $4,000
were insignificant when compared
with annual premium receipts Of $40,
0O0 900.
Nothing more clearly indicates the
character Of the service which the
Company renders TO its policyholders
than the unadorned statement that OF
the total claims presented for pay.
ment. only one-Quarter OF one per cent
was rejected; that the Company will
voluntarily return TO policy-holders In
1911 over $500 900 in cash bonuses
making a total OF over S25 600, 900 thus
returned. without any obligation OF
he ~ he 10
TO do so.
Since January 1, 1907, the Com.
pany has twice increased the benefits
on new policies 10 per cent. and has
set aside over 1000. 600 additional re-
serve TO pay additions TO policies in
the shape of mortuary benefits
Through certain of its activities,
the Company has plainly indicated
that 1t Is. not in business for profit,
but that II has become social insti-
tuition. AS such, II Is entitled TO our
recognition. We are led 10 this con-
viction by Superintendent Hotchkiss'
hearty and unstinted commentator of
the campaign against tuberculosis, the
nursing service for policy-holders and
the sanatorium for employees. three
decidedly important and unique activ-
tiles for social betterment which the
Company has been prosecuting for
several years.
1t Is stated that Is per cent OF the
deaths on which the Company pays
claims are from tuberculosis. AS we
view it, IL this excessive and unneces-
sarily high mortality can be reduced.
il benefits not only the Company but
all of its policy-holders. In the final
analysis, II means cheaper insurance.
Summarizing his nclusi o 8,
Superintendent Hotchkiss expresses
his belief that Industrial insurance
with premiums payable weekly to col.
lectors Is necessity for the indus
trial masses, and that such insurance
must be furnished either by private
corporations or by the State In his
opinion. however. the State is not
ready TO assume such burden.