Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-03-31
INSURANCE BILL
IS RECOMM|TTED
Temporary Halt Called and
Measure May Die Peace
full Death.

TRENTON. March 31-A temporary
halt was called on Assembly bill 662
last night, when 1t was ordered re-
committed Whether it was sent
back to the committee for the pur-
pose of amendment or TO let 1t de a.
peaceful death was not explained,
but it was intimated that apprehen-
sion had been expressed that IL might
prove a step too far in legislation OF
this kind.
The bill, which was introduced by
Assemblyman Curran, of Hudson
county, provides for the regulat on
of insurance companies and to regu~
ate the transaction of insurance
business In this State"
1t amends the act of 1902, under
which two per cent. of the premiums
received by foreign insurance com
panies doing business in New Jersey
retained by the commissioner of
banking and insurance, to be distrib-
uted among the various firemen's re-
lief and pension associations. The
Curran bin raises the sum to be
withheld from premiums to three per
cent and exacts many conditions
that, 1t is pc nted out, would impose
hardships on business men and in
all probability render 1t impossible
for them TO obtain sufficient insur-
ance to cover the value of their
property.
The real purpose of the measure, It's
advocates declare, is to compel a
"shoW down. on the part of New
York insurance brokers, having no
New Jersey Office connections, plac-
ing insurance on dock AMI whart
risks. and other places bordering on
the Hudson river, and making no &C
counting of premiums to state offl-
Gals.
This method, it is claimed, has de.
priVed firemen relief associations OF
.arge sums of money.
While the initiative in regard to
the proposed legislation is understood
to have been taken by Hudson county
firemen, there has been time enoukh
left for reflection.
The fremen have no desire to incur
the ill-Will of fire insurance men,
whose friendship they now hold in a
marked degree, nor do they care to
figure as a class that would hamper
and annoy business men.
Its q new one on uhg ItIIdEhtu
n fireman speaking for others. I'VE
get 2 per cent. from the insurance
companies now and 1t is handed over
cheerfully. We are beginning TO won
der ourselves why we should jump
the ante on them to 3 per cent. Per-
haps they might change their nice
attitude toward us and not pay us a
cent. This 'hogging' the game wont
do. It's that last straw that breaks
the camel's back, and then there Is
that fable of the dog and the bone.
Guess we had better let we'll enough
alone"
1t has come to the attention of the
firemen that the bill, IL a law, would
compel business men to render an ac-
counting of insurance placed and
with whom, instead of leaving that
matter entirely up to Insurance
agents. which is the case now.
Then again, If big business house,
say a department store. for the pur-
pose of example, desired S1,000,000 in
surance to properly protect 1t against
loss in the event of fire, and could
only obtain, say, one-haf that
amount through State or local agents,
because of conditions over which the
store owners had no control, they
could not go outside for needed In
surance without running great risks
and mourning hardships and consid
cradle expense with Assembly bill 662
a law