Daily capital journal. (Salem, Oregon) 1903-1919, 1911-02-21
INSURANCE
LAWS PASSED
THIS SESSION

Sam Koser has broken all records
at the head Of the insurance depart
ment All the bills to which he gave
his o. K. passed the muster of both
houses of the legislature and have
become laws. Two bills were intro
duced in the senate that were tabled,
s. B. 24O, relating to insurance con-
tracts, and S. B. 1856 amending the
standard fire insurance policy. The
Brownhill bill to create a commits
sion to revise the entire insurance
code passed the house, but failed to
come to the surface in the senate.
Oregon has now the most complete
insurance code in the west and Wash
ington legislators have sent for some
of the Oregon laws to enact them.
House bills 144 and LAT are in line
with the legislation demanded by the
national association of insurance
commissioners for uniform legisla-
tion, and Oregon has done her part
fully in this respect. The insurance
men are more progressive than the
lawyers, as the latter have not been
able to secure uniform divorce laws.
Following is a summary of the insur-
ance laws enacted at this session:
II. B. 10, corrects errors in the act
of 1907, mostly Of clerical nature.
H, B, "a extends the anti-compact
law to marine, plate glass, surety
and casualty companies.
H. B. las requires agents of fire
companies to pay an annual license
fee, instead of the old perpetual IL
cense
H. B. 146 makes more specific the
terms of collection of annual license
fees and taxes, and changes the pub
lication clause to require the annual
statements to be published in two
newspapers east of the mountains
and two west of the mountains. The
old law required one publication at
Salem and one at Portland? The
change which was slipped in by the
insurance agents in the house Is not
in the interest of publicity but al
lows the annual statements to be
buried in obscure publications when
they should be given the widest pub
licity. The bill as 1t was prepared by
the insurance department did not
make this change. AS the result of a
ruling of the legal department Of the
state last year, most of the annual
statements at Salem we're published
in the little Prohibition weekly which
has just been sold out by the sheriff,
The largest and best companies seek
OF have their statement published In
the newspapers of largest general
circulation, while the weak compan-
les try to evade publicity.
H. B. 245 provides for increasing
the appropriation of the insurance
department from $4,000 to $4,000
per annum.
II. B, 325 provides that the insur-
ance commissioner shall when he be-
lieves the public welfare demands his
attention investigate domestic insur-
ance corporations, and shall probe
promotion enterprises, which have
become quite scandal, and the in
surance press is full of their reck-
less undertakings.
II. b. 1876 licenses the agents Of
casualty companies and takes cogniz-
ence of the writing of all their busi-
ness.
II. B. 327 provides for the licensing
of life agents and transfer of the
same from one agent to another.
Fl. b. 397 repeals the reciprocal
provision and brings foreign mutual
companies under the state laws. 1t
reduces the requirement as to mem
bership and increases the require
ments as to assets from 100000 to
$150,OO0,
Mr.. Koser has held his Office under
four governors and is considered an
expert authority on the subject of in
surance and will probably be retained
in his present position by the Demo-
cratic governor.