Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1914-07-19
INSURANCE Ooll1llSSI0NKR
TAYLOR DIsCUssEs
sUBJECT.
STATE INSURANCE IS G00l
ssys Companies Have lGada
Enormous Profits IN STATE
81 North Dakota

ssSSS ~ sSs'
lSs 'Slss l1aks 0arrsl of Money
s''lt looks very much as II the com
panies writing hail insurance would
make : barrel Of money In North
Dakota this year. Considered as q
whole, the l0sses have been very
lght 20 Ar, and Of course the hazard
II steadily decreasing day by day.
a good deal Of winter sown rye and
stme barley - already IN stack Or
shock
unlovsIy Spirit.
1T IL pleasant to know that North
!. Dakota affords : profitable field for
insurance operations, but the spirit
manifested BY insurance companies
N unlovely, to say at least In the ear
II part Of the year executives Of the
companies writing hail insurance
held . meeting in Chicago and de-
cided to raise the rates IN North Da-
k0ta. IN the eastern part Of the
state the prevailing rate was not
changed; but In the northwestern
portion the rate was raised from
s ~ to - per cent, while in the
territory lying west and south of the
Missouri river the rate was raised to
Ii per cent.
lncrsassd Forced.
AsI understand It, this increass
Il rates was forced by the big East
ern companies. have talked with .
number Of officials Of western com
raniee. and IA no instance was it
claimed sthak sshes raise WI Justified.
The records show that It was mot
Justified. We have compiled figures
taken from the annual reports made
% the insurance department during
the past seven years. and these show
that very substantial profit has 90.
crued to tie insurance companies
from their han insurance writings In
this state. The imposition OF In:
creased rates upon the farmers In
the western part Of the state. who
were least able to fbear this addi-
tional burden, was outrageous.
= Crest Profits.
"Hah insurance ID popularity sup
posed to be extra hazardous, but It
has been q source Of immense profit
to most Of the companies that have
taken q chance. Last year sixteen
companies writing hail insurance Ii
North Dakota received $1,O79.813 in
premiums, and incurred losses
amounting to $500, ,1O9, the ratio Of
losses to premiums being fraction
above 4e per cent. The hail insur-
ance experience In 1918 Of twenty
six companies reporting to the New
York department showed total prem
iums OF ii S1,651 1893, and total losses
Of $685.. .12l, the ratio Of losses to
premiums being only 42.1 per cent.
stats Insurance..
I'm this connection the following
issue Of The Insurance Field, Is in
teresting:
Gas 4 result Of the large rainfall
In North Dakota and the fine crop
prospects. the hail insurance com
panies have been doing a larger bus
dness in North Dakota this summer
than usual. The State Hail depart
ment is not writing much and is
negligible quantity rs far as secur-
ing a large volume Of business. The
fact that the law makes no provision
for solicitation makes 1t difficult to
work up any interest in the state or.
ganiSation.'
"As q matter of fact, the State
Hail department is writing q much
larger volume Of business this year
than last, with excellent prospects
of paying all losses in full and carry
ing over q subs tantial surplus. How
ever, unless seffinterest or aek-
preservation has ceased to be the
first law Of nature 1t should be quite
unnecessary to work up interest in
the state Organization. Once state
hail insurance 10 fairly launched, and
its benevolent purposes more gener-
ally understood, the. grain growers
Of this state will sit up and take NO
tice.''
FIVE. YARD KISS.
Philadelphia "a kiss more than q
Aa~