Evening star. [volume] (Washington, D.C.) 1854-1972, 1929-07-18
Insurance Superintendent Re-
vea's City Paid $29,
in Premiums During Fiscal
Period.
STOCK LIFE AND MUTUAL
POLICIES LEAD TOTALS
Campaign for Reductions Is Based
Upon Safety Record of
10 Years.

Substantiating the previous recon-
mendations of his department for a
reduction in fire rates in the District,
the report made to the Commissioners
today by Thomas M. Baldwin, ir., su-
perintendent CT insurance, set forth
that the companies doing business In
the District collected premiums amount
ing to S29.128,01312 and paid out losses
aggregating s8234,91328 during the
fiscal year ended June 80
The report further showed that the
amount of insurance written during
the year, exclusive of casualty insur-
ance, was $2,342 ,740,435, a decrease OF
1856, 056,029.16 over the previous year.
Stock Life, Mutual Leads.
The heaviest business was done by
stock life and mutual companies and
associations. which collected In premi-
ums 25,606.19 and paid in losses
S4,546, 112.51. Fire and marine COM
panies collected $3,7l2,357.33 and paid
S947, 93313. Casualty companies col
lected S4,979, 440.38 and paid out
81, 645, 428.91. Fraternal companies COL
lected 1921 ,310.68 and paid out $685.
1921. Reciprocal exchanges collected
S22 ,o63.35 in premiums and paid
Sl2,644.32 in losses.
The report contains an analysis of
the premiums received and losses paid
IN fire insurance during the last 10
calendar years, showing that the aver
age percentage of premiums received
paid back as losses is 1876. During f1e
l0-year period the highest percentage
was SIS in 1922, and the lowest was 22.S
in 1920.
From the above" Mr.. Baldwin wrote.
you will note that of the total premiums
collected during 1928. 23.1 per cent was
sufficient to cover the losses. BY re-
ferring to the previous reports Of the
department, you will see that for years
reduction In fire rates prevailing in the
District has been advocated. The various
citizens associations have passed reso-
lutlonS repeatedly asking for reduced
rates, and at the same time the Cham
Der of Commerce has taken similar ac-
ton. This has been followed by edi-
torials in the local newspapers from
time to time. This agitation has not
been in vain, inasmuch as effective
January ! last. material reductions we're
made in the fire rates on dwellings, so
that there should be a considerable saw
ing in premiums TO the people of Wash
ington from now on.
Commission Asked For.
I'm our last report we recommended
to your board the appointment of a
commission to study the fire rate situa-
ton in the District. That recommends
ton is renewed. The United States
Bureau Of Efficiency, having made a
very exhaustive study of this whole
situation from every angle and COM
piled valuable statistics in connection
with it could, no doubt. conduct an
impartial investigation and render Dis
trict citizens real service"
Mr.. Baldwin reported that the de-
partment had collected during the year
sac. 7o2 ST in license fees and 1901 ,514.74
in taxes, total of $348 ,2173l. This
was an increase of $19,089.62 over the
previous year. To collect this money,
the entire cost of operating the depart
ment for the year, was $20.50945.
The adoption of the provisions Of the
workers compensation act for the Dis
trict has greatly benefited employees, Mr..
Baldwin reported. and has increased
the revenue for the District. inasmuch
as the total of the premiums collected
by the various carriers transacting this
class of business has risen from 1881
to S1,133111 in the course of year
Mr.. Baldwin renewed his recon-
mendation for a new and complete in
surance code for the District. with
abuses could be prevented if we had
law with teeth" Mr.. Baldwin wrote.
There are many representatives who
should be kept out of the insurance
business in justice to the insuring pub
lie. As has been said by company OFF,
Gals as we'll as insurance department
heads, the District should have model
insurance law"