The Clarksburg telegram. [volume] (Clarksburg, W. Va.) 1874-1926, 1912-12-05
Both Fire and Life as Shown
Shown by Mr.. Darst, In
surance Commissioners.

CHARLESTON, Nov. 2s.--Flre ANA
life insurance companies operating in
West Virginia. in compliance with
the laws OF the state, transacted
larger business during the last fiscal
year than in any other period in the
history OF the state, The insurance
in force, the number of risks written.
and premiums collected were larger
than the preceding year. while the
losses incurred, also, were larger
than during the former year.
The annual report of State Auditor
John S. Darst, ex-ofncio Insurance
commissioner of West VII, GINA, shows
that during the last fiscal year risks
were written by those companies au-
thorized to transact business in the
state, amounting to $l6O.T755,s25. For
the same period the premiums collect
ed amounted to s2,4s6,I77. while the
losses paid aggregated sl,4e5,452. In
the preceding tar the risks written
amounted to $i5O.Sls,6Oe. premiums
collected $2,ss6,5s7 and the losses
paid sl.2S7264.
The legal reserve life insurance
companies authorized TO transact
business in the state incfeased tlbe in
surance in force from sllllp6tss7s TO
.sl2L74l,44s, during the last fiscal
year. The risks written incsensed
from s220s95S1 to S25,ls2.2OS;
premiums collected from sG.459,Gso to
50, SS$7l9. and losses incurred de-
crease from ss66,25S to 1899 G54.
The risks written by fire insurance
companies operating in West Virginia
during the last fiscal year were larger
in. the last fiscal year than in any
other period except the year OF 1907,
when the risks written amounted to
S161 ,S01,91G but the premiums col
lected in 1911 exceed those of 1907 by
s27e,ooO.
. The stock insurance companies
operating in West Virginia, did prac-
tically a million dollar business last
year. These companies are authorised
to transact accident health and mis-
cellaneous casualty in the state and
last year collected premiums amount
ing to $sS4,S24.S5. while they paid
losses amounting to 4s2S,44S.5o.
In his annual report, Commissioner
Darst makes recommendations for
remedial insurance legislation. One
OF the most important of these rec
concentrations is a request to give the
insurance commissioner supervision
over companies in the process of or
sanitation, tina, intervene between the
granting OF a character and the APP
plication for license.
He asserts that new companies are
looted during this period by profess
sional promoters without considering
tHeS9 luLuIG NolldEc Ol tue COlupAuy VI
its stockholders. At the same time
Auditor Darst insists there should be
! law regulating stock statesmen and
the sale Of stock by vesting a licens-
Ii g power in the insurance commits
sioner and requiring statesmen to fur
aish satisfactory proof of the value of
stock.
Insurance Commissioner Darst also
,s&s for the enactment of a Law CIV
ng the commissioner supervision over
Insurance agents with power 10 re-
'use or revoke licenses; TO place sol
'eitors under supervision OF the de-
oartment; extension of rebating pen
alties 10 fire and casualty insurance;
The enactment of the uniform fratern-
al society bill; authority for the com
missioner to supervise insurance
rates to prevent discrimination and
excessive rates; amendments to the
law requiring deposits by securely
companies for the purpose of protects
.ng West Virginia policy holders;
amending the law against unauthor-
zed insurance to compel the insured