The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1911-01-11
STATE INSURANCE COM
MISSION.


You VIII be interested in the biennial
report OF the commissioner of insurance.
Organized n separate department OF
state In April OF 1909. pursuant 10 an act
of the eighth legislature, this department
Presents Its first report to the lceisla-
ture. That policyhoders. insurance COM
panies and the public generally have oc-
rived benefits through the creation OF
this department. that state supervision
Of the insurance business has been closer
with rigid enforcement OF The new in
surancc code are facts that cannot tai
10 Impress you with the wisdom OF main
tanning such a department. The expense
OF administering the insurance depart
ment. April S. 1909, to November 80, 1916.
was s10.0l745 The earnings for the same
period were $50 3II.j5. During the first
three months OF 1909. insurance premium
taxes amounting TO S26. .53T.73 were col
lected by the state treasurer and Tees
amounting 10 SSiI5 were collected by the
secretary of state, The total earnings
from Insurance sources for the biennial
period was S10d.3902S, an increase of
S9558.H over the previous blennium. De-
ductlng the cost OF maintenance April s.
1909. TO November 90. 19l0 from the to-
tai earnings we find that the net revc-
nuc to the state from Insurance sources
was Si5S.Il less in 1909 and 1910 than
in 1907 and 1908 However, this does not
take into consideration the clerical eX-
penses of three months administration
un6er the secretary OF state. The Inn
portance OF the work and the closer SUI
give to IT, as heretofore mentioned. arc
the important considerations that should
govern you In making provision for this
department. The insurance commissioner
estimates that the earnings for the en-
suing biepnium VIII amount 10 Sll0.OOO.
The Insurance department was organ
ized with Col. George Il. Squires as COM
missioner. Stricken with an illness
which incapacitatcd him for office work
for many months, Mr., Willard Done was
employed i'll the office during Colonel
Squires indisposition. With the colo
nels death. which sad event occurred In
September OF the past year, Mr., Done
was appointed commissioner.
Minor Amendments Necessary.
This situation emphasizes the neces-
sity Of legislative provision for tho ap-
pointment OF A deputy commissioner oil
insurance While / do not feel that the
pensc incident TO tho employment OF "A
regular deputy, I recommend that au-
thority be granted the commissioner to
appoint n deputy. should the necessity
arise. subject TO the approval OF the gov
ernor and the state board of examiners.
The practical workings OF the code
adopted In 1909 have brought TO light the
necessity for certain minor amendments
These amendments the commissioner has
set forth In detail in his report. and he
is preparing the provisions that viii oc-
compish the ends desired. Without re;
viewing these suggestions in detail.
recommend that wherever the law can
be strengthened In Its protection 10 the
legitimate companies and the insurine
public and made more severe in It's pun
ishment OF those who resort TO misrepro-
sentation In the insurance business
amendments 10 be adopted accordingly.
| The law should not be amended in such
manner as will result in n decrease OF
tho earnings Of the department. II the
present law will not insure earnings
above the cost of administration. at leas,
equal 10 the earnings before the creation
Of The Gppa r;inPDt IL should be amended
TO bring this about.
Chapter 10 of title IL, Compiled Laws
of Utah. should be amended. classifying
surety companies operating in Utah as
insurance companies and placing them
under the supervision of the insurance
department.