The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1911-04-06
METROPOLITAN L|FE'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 It's Progressive Management.

or unusual interest, in view OF
criticisms which have in the past ire
4 quently been made OF so-called "in-
dustrial Insurance" is the recent re-
port OF the Honorable William IL.
Hotchkiss, Superintendent of lnsur-
ance OF New York. IL will probably
come as a Surprise TO many OF our
readers that the Metropolitan Is not
only the leading Company In INDUS
trial insurance. but that during the
last year II wrote practically SloO'-
000, 900 Ordinary insurance, the max
imum permitted by the New YORK
law. For a Company that has peen
known in the past primarily as an
Industrial Company. this Is remark
able showing III business written In
foreign countries other than Canada
be excluded, the Metropolitan wrote
tS2O,OOO,OO0 more Ordinary insurance
than its nearest competitor. There
are at present over $700.000,O0O Or
binary insurance in force. and, in
cluding Industrial insurance, over
32,2l5, 100000. In fact, the COM
1pany was compelled TO stop issuing
Il policies for which application was
y made during the last days OF the
year In order TO keep within the law.
81 Mildly speaking. the report Is de-
tcidedly commendatory. In an Impair
ftial and judicial manner, Superin-
ftendent Hotchkiss expresses his pro-
found conviction that Industrial In
surance as p:acticed by the Metro
politan has had the welfare OF the
ipolicy-holders only in mind, and that
the Officers OF the Company have
bent every effort to cheaper the cost
or such insurance to reduce lapses.
and In general TO safeguard at every
turn the interests of their upwards
OF seven millions OF policy-holders,
tThe superintendent writes almost ad-
miringly OF the reduction and man
agement expense OF nearly z per cent
and IN the lapse rate OF approximate
ly 10 per cent. Tersely stated, Mr..
Hotchkiss shows that Insurance for
the masses is given practically at
cost, and that the dividends to stock
holders, limited by the bylaws OF the
Company to $4,000 were insignih-
cant when compared with annual
premium receipts OF $70.000,000.
q Nothing more clearly indicates the
3 character OF the service which the
8 Company renders to its policy hold
ers than the unadorned statement
that OF the total claims presented
: for payment. only one-quarter OF one
per CENT was rejected; that the Com
y pany Will voluntarily return to POI
h icy-holders in 1911 over $4,000 900
in cash bonuses. making total OF
rat iiT nd uif
cut any obligation OF any kind on the
part OF the Company to do so.
Since January /, 1907, the Com
pany has twice increased the bene-
fits on new policies 10 per cent. and
has set aside over $4,000,000 addi-
tional reserve to pay additions TO pol
icies in the shape OF mortuary bene-
fits.
Through certain OF It's activities,
the Company has plainly indicated
that It is not in business for profit.
but that IT has become a social insti-
tuition AS such, IT Is entitled to our
recognition We are led 70 this con-
yiction 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
activities 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 IL, II this excessive and un-
necessarily high mortality can be re-
duced. 1t benefits not only the Com
pany but all Of it's policy-holders. In
the final analysis, 1t means cheaper
insurance.
Summarizing his conclusions. Su-
perintendent Hotchkiss expresses his
belief that Industrial insurance with
premiums payable weekly TO collec-
tors is a necessity for the industrial
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.