The Wolf Point herald. (Wolf Point, Mont.) 1913-1940, 1921-08-25

Insurance business in general in
Montana showed a marked increase
during the year of 1920 as is shown
by the annual report of the insur-
ance department of the state which
has just been completed and is being
placed in the hands of the printer
by w. S. Hosking, deputy commits
sioner of insurance in the office OF
State Auditor George P. Porter.
The premiums received by all COM
panies shows an increase of nearly
three million dollars owe the year
1919.
AT the same time the insurance de-
partment's receipts for the year show
ed an increase of 25.3 per cent over
those of the previous year.
Over $15,000,0 600 was paid out by
the people of Montana in premiums
upon life, accident, liability, work
mems compensation, fidelity, surety
and other classes of insurance and
the face value of the policies in force
increased in figures of millions.
Fire Companies Lead
DuI1uS Lu0 year cuQlnS OtC0luOCl
81, 1920, cash premiums received by
insurance companies operating in
Montana we're as follows:
Fire, $6,630,620.50; life, $5,703,-
609.64; assessment life, $106,007.37;
industrial insurance, $250,290.98;
fraternal societies, s1,062,315.73;
miscellaneous companies, $751;
518.03; total, 15,084,362.25.
n..us-- 4 n n a. 80 -
received was 2,218, $1,000, so the
increase of 1920 amounted to $2,-
~866,022.45.
The bulk of the increase in prem
iums was shown by the fire insur-
nee companies and amounted to 3d.
1~11,578.13.
The report shows the total of fire
risks written in 1920 as $298,784,-t
948.89, compared with $219,517,-I
1851 in 1919, or an increase of
$77,267,593.08.
Net premium receipts in 1920 were
S6,63O,620.50, as compared with
s4,519,042.37 in 1919, or an increase
of $2,111,578.13.
Increase in Losses
At the same time losses showed a
heavy increase, the fire losses paid
in 1920 amounting to s3,556,773.64,
compared with $2,570,044.78 in
1919, an increase of $9~86,728.S6.
An increase of $16,367,770.68 was
made in 1920 in the policy value car
ried on December 81, 1920, in all
classes of life insurance, including
legal reserve companies, industrial
and assessment life companies. At
that time there were in force 132,151
policies, representing $195,313,-
583.49, compared with 1895 poll
cies, representing s178,945,812.S1
on December 81, 1919.
Legal reserve companies wrote
$40 ,649.32 in new business dur
ing the year but in that period in
surance to the amount of $27,289,-
863.24 ceased to be in force, leaving
the net increase for the year at s13,-
2~99,786.o8.
Like Business Measures
These companies paid losses dur
ing the year amounting to $1,547,-
100. 46, a decrease of $529,159.42
from those of the previous year, and
incurred losses of $1,515,5O7.39, a
decrease of $~216,963.16 from 1919.
Assessment life insurance con-
Germs showed an increase in business
over the previous year of 81, PAL
so, while the increase in industrial
business amounted to $1,191,743.
Premiums received by companies
listed as miscellaneous were as fol-
lows:
Accident, s3~3O,693.56; health,
S58,366.77; liability, $169,624.32;
workmen's compensation, $3.50, 624.-
35; fidelity, s125,677.5S; surety, {
~s248,7S6.10; burglary and theft,
$29,342.17; automobile and team
property damage, $55,421.55; plate {
glass, s~97,548.9S; steam boiler, s1O,- !
1923; sprinkler, ~s652.96; livestock
s13,115.39; miscellaneous, $1,471.-
OF; total, 1920, $1,53f,51S.03; total, {
1919, $1,139,326.9S; increase. $780, ]
1906. t
State Gets S314,O88 '
During 1920, Montana, through &
the insurance department, received |
from insurance companies and their
agents in fees and taxes, $314,088.-
81, compared with $3.50, 651.71 for I
1919, an increase of $63,436.87, a
percentage increase of 25.3. c
These cash receipts are itemized c
follows: Agents licenses, 10,129 c
at SIS each, s50,645; annual state c
mentS, 39Z at $50 each, 51,55U; Ill I
ing charters and first papers, So at \
$500 each, $15,600; fraternal order v
fees, 80 at SO each, $500; fire mar G
shall fund, s10,246.61, while miscel- Il
laneous receipts were ~s1,996.54. n
Three hundred and fifty four in
surance companies were engaged in t
business in Montana on April 1, 1921 S
and listed as follows: o
Fire companies, 1873; domestic mu- b
tual fire companies, Q; fire reinsur- il
companies, SO; life insurance t
companies, 43; assessment life in
surance companies, 2; life %reinsur-
ance companies, 8; fraternal insur- r.
ance societies, 80; farmers mutual s.
insurance companies, IL. "
Organize Livestock Loan n
That a local livestock loan asso- a
will be organized in Custer *