The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1912-12-29

Of the underlying principles Of insur-
auce.
As chairman of this committee, the
Utah commissioner has been given a
responsible and important duty TO per
form. In this work be has been assured
or the active support of his associates
III the convention, and the future is
most promising. It is expected that
as result of the activities of this
and similar bodies, the people will come
more fully to know and realize their
own relations to the business of insur-
ance and the best way 10 protect them
selves and conserve their interests.
The main purpose Of these educa-
tional activities is 10 create the i'm
preston in the minds Of the people
that they are themselves in large de-
gree responsible for rates of premiums
IN all lines Of insurance where the laws
of nature do not operate unchangeably
Fire insurance rates arc increased by
prevcntable accidents: and so on down
the line. AT present, chief attention is
being given to diminishing the fire loss
Public Interest.
Agitation against the practice Of
companies and resolutions condemning
their rates do not accomplish much.
rates can be secured only by reducing
the fire hazard. Utah in general, and
the large cities Of the state in parti-
cular,. arc very fortunately situated
IN respect to fire dangers. But under
the general and universal conditions
governing the writing of fire insurance,
neither Utah nor any Of its cities can
stand alone IN respect to premium rates.
Insurance is a business of averages,
and while a well protected city, such
as ours, receives credit for its fire
protection facilities, and profits somo
in its rates, yet under the general law
of average it must help pay for the
greater fire hazards Of other COM
mupities.
Under this rule of the fire insurance
companies, there is being effected
considerable reduction in local fire in
suranco rates, and the gratifying re-
suits of this adjustment will mako
themselves manifest carly in the coming
year.
Another movement of great general
aud local interest is the attempt to
secure an increasing standard Of ethics
in the conduct of the insurance busi-
ness. Local associations Of underwrit-
ers have taken up this matter and
have co-operated with the insurance
department in the betterment of con-
ditions, and especially in the wedding
out of questionable and disreputable
agents.
Under the operation of the insurance
law enacted in 1909 practically all weak
companies were driven from the state;
and any company which passes the
strict requirements of the Utah code is
nquestionably secure. It is taking
little longer, however, to drive out Of
the business the floating population
among agents who drift into our com
munities, fleece the people until their
real character becomes known, and
then leave for other fields.
The insurance department acknowl
edges debt Of gratitude to the perma-
nent and high class insurance men rep
resenting that profession in this state
for efficient help in accomplishing this
wedding out process. Every institu-
tion must in the end purify itself Out
side forces can only help in this process.
The insurance business in Utah is work
ing out its own salvation, and condi-
tions here are most admirable.