The Laurens advertiser. (Laurens, S.C.) 1885-1973, 1916-11-29
FIND NO SOLUTION OF
INSURANCE MUDDLE


Considering Numerous Proposals.
commissioners and Insurance Men
Disagree on States Right to Review
Rates.
Columbia, Nov. 25.-The commission
named by Gov. Manning to consider
necessary steps towards clearing uD
the fire insurance situation adjourned
at an early hour this morning without
coming to any conclusion on the many
proposals submitted by representatives
Oh the companies at the hearings yes
terday. The committee went into exc
cutiye session last night at II o'clock
and after threshing over the whole
programme until 1870 this morning ad-
1ourned to meet again on Tuesday
week 1t is hoped that by then the
commission will be able to agree on
the situation and begin forming ten
tative draft Of the bill to offer at the
approaching session Of the General AS
sembly.
Ihe main bone of contention be-
tween the Withdrawing companies and
the State is over the matter of contro,
of rates. The companies contend that
they were doing business at a loss in
south Carolina under the old rates of
the Southeastern Tariff bureau and
that 1t Is unfair for the State to inter-
fere with the rates until such time as
the companies are showing an unrea-
sonable profit on the aggregate bust
ness. This was the point stressed by
). III. Doyle, attorney for the National
Board of Fire Underwriters and he
suggested that the Pennsylvania law
be adopted and that, in his opinion,
the companies would not object to q
provision written in that law allowing
the State to review rates after period
OF i've years should 1t develop that
the profit on the aggregate business in
that period was in excess OF a reason
able amount.
Some of the commission were moi
disposed favorably towards surrender
ing the power Of the State to review
insurance rates and if found excessive
10 substitute rate fixed by the State.
senator Lancy, OF Chesterfield, author
;of the Laney- Odom anti-compact bill
ana one of the members of the present
commission indicated that he miaht
De willing to agree to modification
or The anti-compact law but that he
would hold out for the right of the
state to review rates. This was the
rock on which the representatives Of
the companies and the State split and
Unless something more dcvelops than
"hat took place at the conference of
yesterday more work is going to have
70 be done before any steps can be
taken to clear up the situation. One
OF the representatives of the comnan-
les yesterday made it plain that in his
opinion the companies would not re-
urn 10 the State unless they had the
power to make rates unhampered nv
the State or the Insurance Commits
sioner.
That the valued policy clause should
be repealed seemed to be generally
agreed on and 1t was also developed
That something must be done in tho
mater OF municipal taxes on insur-
ance companies. The proposal of the
commission to recommend fire in
quest law was received favorablv bv
the companies as was the suggestion
10 employ an expert to teach the fire
departments Of the towns how to fight
nre. 1T was pointed out that some step
towards reduction Of the enormous
iire loss must be taken before any,
thing could be done towards lowering
the cost Of fire insurance.
All OF the companies proclaimed the
most friendly feeling for South Caro-
lima and said they withdrew simply
because 1t was impossible to do a bust
ness In the State under the present
laws and at profit. They say they
are ready to como back Just as soon
as the laws and conditions permit them
10 40 so md make a reasonable profit