The Wheeling intelligencer. [volume] (Wheeling, W. Va.) 1903-1961, 1913-04-07
GIVES HIS VIEW
Auditor Dsrst Places Construetior
on the State Insurance. Laws as
They Apply to Rebsttino.

CHARLESTON. April 6. - with a
View OF informing the public OF the
position the state auditor. who is also
the insurance commissioner OF thc
state. Will take on the insurance laws
enacted by the last Legislature in al
vance OF any Interpretation placed on
them bv the courts. the Insurance
commission in the bulletin Just pub
Ished gives the departments inter
probation OF the laws and how ~ will
hold Relating 10 rcbatting the bulle-
tin says:
As new laws In regard to this sub
Jet Will become effective I'm the near
future tMaN =. 1872. II is deemed
advisable to give the views OF the dc
pariment as To the meaning and prop
er construction OF some OF the pro-
Visions about which there NAV os
some doubt or difference OF opinion.
These opinions and rulings ar. sub
ject TO modification. and have not tho
protective effect of judicial decisions
They are intended as a guide in the
absence Of more substantial authority.
section - Of the revised insurance
laws prov ides:
q That the entire contract shall he
expressed in the policy.
~ That neither the insurer nor
ITS representative shall offer or give
any valuable consideration to tho in
sured, which is not specified in IN.
pclicN contract NJ insurance. nor shall
the insured accept any such valuable
consideration.
This section prohibits the giving OF
value not expressed In the policy.
either directly or indirectly. before. al
or after the date of the policy. az an
inducement to the taking OF the in
surance
II also applies 20 the renewal OF 4
policy previously written.
IL viii be remembered that the pre-
MUM stated IN the policy is cash
pre- MUM.
Therefore. while transactions I'm ac-
corcanCe with tho usual course ~
business bV which the collection OF
premiums IS deferred beyond the du"
date are not a violation. any special
arrangement whereby in considera-
ton of thu pla'in- of Insurance. tfr
se,nt extends a definite credit with
ou- legal rate 90 INTEREST," a. TO IA"
l"Nment -: premium. is violation
Of this section.
I, also follows hat ~ tho accept
ancc of a note IN payment OF premium
is an admission that u j. not rasn
transaction. such mote must hear ;he
'"ga' rat" - interest.
Til" acceptance "r pavm'nt of a
Premium is an admission that II IS 80:
cash transaction. such note ms.
h' ar the loyal rate Of i-t"rest.
Tn a~ccpi7nc" ~ payment ~ 4
premium less thrr the so-csll"d tari''
rat" - not ia violation 81 this section.
provided the premium paid l. that set
'orth III ito policy.
To payment To tho insured - 4
return premium on "a policy. The rate
80 when mas bosu reduced. e. no. a
collation. "l this -'ctioa. provided the
rcd atiun j. "ud",>'d on the policy
"" ale ot me opinion that an in
PEA rs.. D.
~iI'r'd "nt.r-ib separately from his
status as IN insurer. an. consequent
.N fNaf 90 b"f 70 I'D. agent is entitled 70
th" commits N po'ici,r written ~
hum IN mis- own proper. p"Tsnn r.
liability q" the same effect as 8: H.
w"-" dealing with stranger
The remission O! reduction ~ ,
policy Zee cusfomarG' charged ly 4
company FOR the ISSUANCE o. hrGlfh
ana accident policy = violation a.:
this section.
Deals Wth Solicitors.
Tho report aleo deals with tho Lev
relating o. solicitors Of inSuran %
This ilw Will iukr eject Ala, =. ntt"r
vfi"h 20 viii 100 considered n viola
t.or fur ans one 10 set ~ ;ilo sp..citt-
ton - Procurement OF applicant. s.
t"t or uu'iri'es 81 insurau.- wi;ho O..
a license either rs solicitor or GE-nt
Tn" !asUrarcc comm ,sSiorcr- holds
. That q solicitor Be- N" rcpr.s"ntat'V
"f th" 'mplo"i1- local agent VII, l.
f"srorsl"l' ~ principal cor tho -
D 10. h.- S'.ft I'pT-. fnu trr solicitor IS
IH' 81 ?. pr.setlfatt.c oi The ,nmiaar.
ard dos pot haze authority - sisl
policies thai IN law forliCs iocnt
"c .-' I'D" ai"i- fsr e solicitors fir.'.es
vl'f fh' prIu.i.ai H>. q st.h I-otis .
FEE o." effect irSurar,e upon flc uro.-
"rif. u"rson .- LIABILITY Of th" ar-
t'.i rt''. 'r o. IS .urlNcut be anff-r-.
bate laws. ifaf every member 90 q
tru who IS licensed a. n local agent
les entitled goo .ruoirf 'Wo eolici'.rs
I y - The irst ~ Nar,E tho state
BE- .'.'"r e "ii.' irslnd - go v'sr boz
.urir. Julr : last Isl a.tomOhf .
d.. .ua..