New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-07-15
Stops
Marine Insurance
Leak to Germany
reclamation of
The President on
German Insurance

w companies, incorporated un-
der the laws Of the German
Empire, have been admitted TO trans
act the business Of marine and war
risk insurance in various states of
the United States. by means of sepa-
rate United States branches estab-
lished pursuant TO the law of such
states. and are now engaged in such
business under the supervision of the
insurance departments thereof, with
assets in the United States deposited
with insurance departments or in
the hands of resident trustees, citi-
zens of the United States, for the
protection of all policyholders in the
United States;
And whereas, the nature of marine
and war risk insurance is such that
those conducting it must of neces-
sity be in touch with the movements
Of ships and cargoes, and it has been
considered by the government of
great Importance that this informa-
tion should not be obtained by alien
enemies;
Now, therefore, !, Woodrow Will
son, President of the United States
of America, by virtue of the powers
vested in me as such, hereby declare
and proclaim that such branch estab-
lishments OF German insurance COM
panies now engaged in the transac-
tion of business in the United States
pursuant to the laws of the several
states are hereby prohibited from
continuing the transaction of the
business of marine and war risk IN
surance either as direct insurer or
reinsurers; and all individuals. firms
and insurance companies incorporat-
ed under the laws of any of the
states or territories OF the United
States. or of any foreign country, and
established pursuant TO the laws OF
such states and now engaged in the
United States in the business of ma
rine and war risk insurance either
as direct insurers or reinsurers are
hereby prohibited from reinsuring
with companies incorporated under
the laws of the German Empire, no
matter where located; and all per-
sons in the United States are pro-
hibited from insuring against ma
rine or war risks with insurance
companies incorporated under tho
laws of the German Empire or with
individuals, firms and insurance COM
panies incorporated under the laws
of any of the states or territories of
the United States or of any foreign
country and now engaged in the
business of marine or war risk in
surance in the United States which
reinsure business originating in the
United States with companies incor-
porated under the laws of the Ger
man Empire, no matter where located.
The foregoing prohibition shall
extend and operate as to all
existing contracts for insurance
and reinsurance which are here
BY suspended for the period of
the war. except that they shall not
operate TO vitiate or prevent the IN
surance or reinsurance Of, and the
payment or receipt of. premiums on
insurance or reinsurance under exist
ing contracts on vessels or interest at
risk on the date of this proclamation,
and such insurance or reinsurance, II
for a voyage. shall continue in force
until arrival at destination, and II
for time, until thirty days from the
date of this proclamation, but If on a
voyage at that time, until the arrival
at destination.
Nothing herein shall be construed
TO operate to prevent the payment or
receipt of any premium or claim
now due or which may become due on
or in respect TO insurance or rein
surances not prohibited by this proc
lamation.
That all funds of such German COM
panies now in the possession OF their
managers or agents, or which shall
hereafter come into their possession,
shall be subject to such rules and reg
ulations concerning the payment and
disposition thereof as shall be pre-
scribed by the insurance supervising
officials of the state in which the
principal Office Of such establishment
in the United States is located; but
in no event shall any funds belonging
20 or held for the benefit of such
companies be transmitted outside OF
the United States, nor be used as the
basis for the establishment, directly
or indirectly, Of any credit within or
outside Of the United States TO or
for the benefit or use of the enemy
or any Of his allies without the per-
ynission Of this government.