The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1916-04-08
Stat. Fir. Marshal.

!
This department, OF which an the
ex.officio head. has for its object the
reduction Of IRE waste,
It works In conjunction with local
officials throughout the State. and has
several expert representatives who are
continually at work. either In the In.
spection Of buildings, with view to
reducing the FIRE hazard or in inyesti.
eating suspicious fres, with the object
Of prosecuting. those who may be
guilty Of arson or incendiarism. II Is
continually engaged In educational
work along fire prevention lines. A
strong effort Is being made to
bring before the individual prop.
erty owner. as we'll as the officials
the principal causes OF fires, so that
they may be Influenced to guard
against this ever present danger,
which few simple precautions will
often minimize. This work is already
bearing fruit in reduced losses. and in
reduced fire insurance rates-!t Is the
great remedy for high rstas.
ThiA department is supported by
means OF special tax on tho fire in.
surance companies, levied for this one
purpose, hence It's esta 81. shment
placed no additional burdens on the
State.
Insurance Department.
In order that the magnitude and i'm.
portance OF this department may he
properly appreciated, ] desire to direct
your attention to the following facts:
It has supervision over three thou.
sand agents.
It has supervision over three hun.
dred and City companies. whose com.
bined assets are nearly six thousand
millions OF dollars.
The citizens OF West Virginia hold
IRE insurance policies for four hundred
million dollars. life insurance policies
for one hundred and seventy-aye mil.
lion dollars, fraternal beneht certifi.
Gates for forty million dollars and mil.
lions OF dollars in miscellaneous lines
Of insurance.
The premiums collected from West
Virginia by companies of all classes
are nine millions OF dollars per year.
Tho losses paid West Virginia citi.
Gems are four million dollars per year.
The taxes and fees collected by the
Insurance Department are two hundred
and forty thousand dollars per year.
which goes into the State Treasury.
All the amounts involved are stead.
lily increasing. yet the total expense
Is only 100000 per year.
Protecting Policy Holders.
Nearly every citizen is interested
in insurance. either as policyholder or
beneficiary. The provision for de-
pendents made by tho wage Garner of
today. often through the sacrifice Of
comfort and pleasure. will have an i'm.
portant influence on the destinies OF
generations yet unborn. This pro
vision may mean the difference be-
tween poverty and plenty. between
education and ignorance. between
crime and good citizenship.
How very important then Is this de.
partment, which is charged with the
regulation and supervision Of insur.
ance companies and matters pertain.
ing to insurance. Not only; must the
policyholders of the present genera.
ton be protected from fraudulent
weak and insolvent companies. but
the future must be so guarded that the
generous sacrifice Of the family's pro-
tector will be not in vain-when the
claim natures. 1t must be paid.
AS 1t is a practical impossibility to
draw laws with sufficient exactness to
cover every point that may arise under
the constantly changing conditions in
the field Of insurance. the Insurance
Commissioner has been given large
discretion, which Of course. carries
with it the corresponding responsible
ity that comes with discretionary
powers. The Insurance Department
could be run with little difficulty should
the Commissioner be content to act
merely In a clerical capacity-to grant
such licenses as are requested and to
follow the path Of least resistance
generally. In fact, to do more requires
not only knowledge, but steadfast
desire and determination to approve
only that which is for the public
good. And this is what we have con.
sistently striven for, often in the face
OF the venomous opposition and
threats of those whose fraudulent or
unsafe propositions have not been
approved.
Detecting Weakness.
Our first object is to bar from the
State-to refuse license to-com.
panies that are not financially respon.
sible or which do not conduct their
business along proper lines. To
identify such companies requires
technical knowledge and experience.
in order to properly analyze the affairs
of the company and get a clear under.
standing Of its financial condition, con.
tracts and methods of doing business.
II a company already licensed be.
gins to show signs of weakness or
improper dealing, knowledge is like
wise required to detect these signs and
dictate appropriate action for the pro.
lection OF its West virginia policy.
holders.
The examination Of complaints as
to claim settlements is also an i'm.
portant function: to obtain for policy.
holders what they are legally and
morally entitled to. and In other in.
stances to avoid injustice to the com.