The Washington times., 1914-10-19
MODEL INSURANCE
LAW IS PRESENTED
Nesbit Calls Attention of Dis
trict to Measure and Urges
Legislation.

Declaring there is urgent need for
additional legislation governing insur-
ance in the District, Charles F. Nesbit.
superintendent of Insurance in his an
nual report to the Commissioners. di-
reefs attention TO n draft of model
law" which is being prepared by
committee of the American Bar Asso-
citation and will be presented to the
association at its meeting, which be-
gins tomorrow in Memorial Continental
HALL.
A conference regarding the proposed
bill was held today between members
OF the committee. which consists of
A. j. vorys. chairman: Ashley Cock
rill, Archibald G.. Thatcher. Rodney A.
Mercur, F. &. Green. of Kentucky, who
was appointed by Governor McCreary
to investigate and report on insurance
laws of the different States; and Super
ntendent Nesbit.
Legislation regulating fraternal as
socations. superintendent Nesbit said,
is needed. and should be embodied in
the proposed law.
Hope To Harmonic Laws.
THE hope of the American Bar As
ISOLATION is that if this law in its
final form Is adopted by Congress 1t
will promote harmony in the laws reg
ulating Insurance in the several States
of the Union SAYS the report. The
Importance of uniform laws governing
insurance is recognized by al students
of insurance.
lone Of the most serious problems
confronting the insurance world today
is proper laws regulating fraternal
benefit associations. After many con-
ferences between the insurance COM
missioners of the several States and the
leading fraternal associations, law has
been prepared which is known as the
n
later is sometimes referred to as the
New York conference bill This bill.
which has been passed by fifteen or six
teen States. marks great step forward
In the regulation Of fraternal assocls-
lions, and its essential features should
be embodied in this proposed new
law
There was paid in premiums - the
District during the year 1913 for insur-
ance of all kinds s6S36.766.0I Losses
paid by all companies and associations
amounted to $3.50. 1O9.s9. The amount
of insurance written during the year.
exclusive of casualty. was SITS, 122. o3j.Ol.
The assets of all insurance companies
and associations transacting business in
the District on December 81. 1919.
amounted to s5,075. 500. s73.47: liabilities,
Sales s22 1881: surplus. including capl-
tai. 1896 1911. 1926
Decision Marks Era.
Attention is directed to a decision of
the Supreme Court Of the United States.
handed down in April, 1914 in the case
of the German Alliance Insurance Com
pany VS.. |. Lewis. superintendent Of in
surance of Kansas. confirming the
validity of the State laws giving the
superintendent the right to fix and regu-
late rates for fire insurance.
This. Superintendent Nesbit declares.
is one of the most important decisions IN
recent years, and marks the era when
public rate making replaces private rate
making. 1t is possible and probable. he
in such adjustment in fire insurance
rates rs viii tend almost automatically
to reduce defects and hazards in build
ings and thus decrease the annual fire
waste in the country, amounting 70 an
average OF $3.50, 100000.
This waste can and should be greatly
reduced" says the report. II is an in
dictncnt against the economic intelll
gence of the American people. II is TO
be hoped that in this particular the Dis
trIct will become an example 20 other