Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1916-11-20

Inc clean sweep maze by the Earnl-
ers' Non-Partisan Political League at
the recent election may mean some
radical changes in North DakOta's in
surance laws. 1t is certain that it will
mean more liberal treatment by the
state for the mntualS, and there is
probability that the league may ven
ture at the Fifteenth general assemu-
ly, which convenes in January, into
state life and fire, as well as hail,
casualty and general crop insurance.
Compulsory hail insurance, through
the state, to be assessed on every
acre of land within the state, is one
of the plans considered. This is pro:
posed as one means OF getting at
the nonresident landlord, and, more
especially, the holder Of idle lands
for speculative purposes. Probably
thirty per cent Of North Dakota's I'M
developed lands are owned outside the
state Every acre Of this land would
be assessed under the leagues plan to
assist in insnring against hail loss the
crops OF the neighbOring farms which
have been improved.
Present Law Popular.
North Dakota's present hail law
has proven popular. No effort how
ever, has been made or can be made
under the statute to accumulate q
surplus or a retiring or re,insurinS
fund. There is paid out each year
all that has been paid in premiums,
minus a small administration fee, Of
fee expenses, and charges for adjust
ing. During the fiscal year Just clos:
ed, the state hail fund wrote $40 pol
icies covering risks aggregating $S2D,-
500, and it collected from it's policy
holders $33,11G.S2. The losses for the
year as allowed by the state depart
ment aggregated $79,371.76, and they
we're adjusted at 50 per cent, policy
holders receiving $30,i61.26. The hail
fund closed the year with $l,Oll.32
on hand.
Assessment Lies Going.
The assessment life insurance COM
pany is rapidly retiring from the
North Dakota field. Insurance Com
missioner w. G. TaylOr's report for
the fiscal year, just issued, shows
that of four assessment life insur-
ance companies doing business in the
state two years ago, only one remains
One was withdrawn, and the other
two reorganiZed on a legal reserve
basis.
Actuary Examiner.
Commissioner Taylor rcncWs his
recommendation to the governor for
the appointment Of an actuary, the
need of whose services in the state
commissioners Office becomes more
acute each day. Life insurance bust.
ness in North Dakota is increasing,
and life insurance companies are
constantly evolving new schemes Of
indemnity and deyising new plans Of
appointment and settlement Of the
benefits promised"
t. Taylor Retires.
4 This will be Thylor'st last report as
insurance commissioner of North Da-
llota. His was among the heads lop-
ped by tho Non-Partisan League at the
June primaries, when his successor
S. A. Ulsness, was nominated. OILS
ness rode into Office without opposi-
ton last week.
Supervision Of Rates.
Taylor in his report calls attention
to the fact that an effort Was made
two years ago to secure favorable con-
sideration of bills providing for the
supervision Of rate-making bureaus,
and that the Fourteenth legislative
assembly rejected the bill with a tie
vote. "If much more drastic meas
ures than those proposed two years
ago should be passed by the forth
coming legislature, it would perhaps
be no more than poetic justice" says
the commissioners
Rates Are Excessive.
Retiring Commissioner. Taylor ad
mits that fire insurance rates in
North Dakota are too nigh in some
instances. but he finds discrimination
the most common weakness. At the
same time he finds 4 very general UNI
4 reasonablneSS among the people as
to the entire matter Of fire insurance
and adequate rates therefore. This
same unreasonaDleness may cut some
queer capers in the next general as
sembly.
Proud Of County MutuaIs.
Commissioner Taylor is proud of
I North DakOta's county mutuals.
These insure the property OF their
members against loss Or damage by
fire. lightning and cyclone. Practical
~ no complaints against them have
reached the department. While half
the premiums paid into old-line fire
insurance companies, Taylor finds,
are eaten up by expenses" a very
small percentum Of mutual premises
goes into "overhead.' In the case
of six state mutuals, the amount
of insurance in force this year asgre-
gated $1l ,S36,167 and the cost of Op-