The Washington herald., 1914-06-14
MODERN life INSURANCE
TAKES Wider SCOPE
Supt. Emmet, of New York Insurance
Department. Commends Metro
politan Company.

| The report of the New York State de-
| partment Of insurance on the triennial
examination Of the Metropolitan Life In
surance Company has just been published
by the State. Under the law. revised by
Gov. Hughes, this examination must be
made every three years. About twenty
examiners of the insurance department
devoted nearly a year to the work. and
Mr.. Emmett, as superintendent of the de-
partment, wrote an extended review of
the report. In this review Commissioner
/ Emmet not only made an analysis of the
company's condition as a business cor
poration. but of its activities along the
broader lines Of social service among in
dustrial workers. health education, and
the conservation of human life. He
| points out that the company, now having
more than 100000 policies outstanding
! has assumed such proportions that it is
practically brought into immediate con-
| tact with approximately one-eighth of the
population of the United States.
Here are extracts from Superintendent
/ Emmets report:
THE fact is. the history and achieve
! mcnts during the last decade of the Met
ropolitan Life Insurance Company, and
of ono or two other of our large life in
surance companies. present such shining
ness management-with, in some cases, a
dash of craftsmanship thrown in-that
! il seems to me to be quite as much the
duty of a supervisory official, when an
appropriate occasion arises. to comment
favorably upon such cases of successful
public service by business corporations
under private control. as il would be his
duty under present conditions to admin
lister sharp criticism il the tendency had
been in the other direction.
THE fact that the percentage of Iapses
due to the abandonment of their insur-
ance by policy-holders is constantly de-
creasing. speaks eloquently to the same
effect This aforementioned development
Is perhaps the most convincing evidence
i which could be offered that the com-
pany's policy-holders are. broadly speak
ing. very well satisfied indeed with what
they get in return for the premiums they
paw A very remarkable showing alto
gether.
If the men in charge of such a COM
pany grow reactionary in their tenden-
cies, or blind to the social progress of the
age, the movement toward an absorption
Of their powers by the State itself will,
as matters stand, proceed very rapidly.
But in the case of the company under
consideration there has been such a frank
and fearless recognition of its new re-
4
all, to understand how it has happened
that in the field of industrial insurance
the movement toward State operation and
ownership has experienced a setback.
Having very promptly recognized what
the public may rightfully require from
institutions engaged in the industrial in
surance misunderstanding in fact been
largely Instrumental in educating the
public to a full realization of what it
might rightfully require-this company
waited for no changes in existing law
before striking out as pioneer among in
surance companies along the pathway of
social service on a hugh scale.
Leaving out of consideration the mere
numbers of those who have been directly
benefited by these activities, / think that
the example which the Metropolitan has
set to other great business organizations
by its carly recognition of the new re-
sponsibilities attaching to all business
en,erprises which have attained a GER
tain size. is one of the most beneficial
of recent occurrences in the field Of
American business. -.- ... i