The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1932-02-01
$40, 600, 900 Paid Out For Loss
es; Saving Estimated
Near $35, 600, 900

Risks totaling $72OO00 900 have
been assumed by the state hail in
surance department since enactment
Of the hail insurance law in 1919, &C.
cording to business review Of the
departments activities by 8. A. Ols-
ness, commissioner Of insurance.
Approximately $4,000, 900 has been
paid out as indemnity for loss to crops
by hail in the Is years Of the depart
ment's operation. Over that period
182,721 claims for damage have been
filed by crop owners and the tax for
81 an acre protection has ranged
from az to So cents an acre.
From 1919 to 1881, the department
has carried protection on an aggre-
gate Of 10l 900, 900 acres Of crops at
an estimated saving to the insured Of
over $35, 900 900, Olsness said. In adj
dition to the payment Of losses re-
serve fund Of $4,000 900 has been &C
cumulated to pay losses In cash..
Hail indemnity rates for the four
state districts range from Is to A
cents for 81 an acre protection In
1881, and II to 18 cents for s. addt-
tional protection.
District Costs Listed
In the first district, composed Of 40
counties, the hail indemnity tax rate
for 1881 was 26 cents for 81 protec-
ton, and IL cents for So additional.
Acres insured In this district totaled
2685, 4O3.
In the second district. composed of
Bowman, Burleigh, Logan. Mcintosh,
Morton, Mckenzie and Mclean coun-
ties, the rate was 80 cents for 81 and
IA cents for s. with 693, O63 acres In
Sured.
In the third district, composed Of
Slope and Williams counties, the rate
was 81 cents for 81, and 16 cents for
So, with 224,001 acres insured.
In the fourth district, composed OF
Dunn, Grant, Walsh and Hettinger
counties, the rate was &c for 81 and
Is cents for s., with 480,184 counties
insured.
Last year PIT per cent Of the
cropped lands in the state were In
sured with the hail insurance depart
ment. with $997,619 paid for losses.
Risks carried aggregated $28, 719,937;
cropped acreage totaled 1880, 489;
acres insured 4,O82 ,656, with s. addi-
tional protection carried on 47,116
acres. A total Of 6,610 claims were
filed.
The last legislature amended the
hail insurance law, the changes be-
coming effective July /, 1881. volun-
tary application for protection was
substituted for compulsory listing,
and indemnities for losses are to be
paid during the hail season rather
than after all claims have been adj
justed.
Specifies Kind Of Crops
The new law specifies the kind OF
crops that may be insured, and short
ems the time limit of protection on
certain crops. The 14-day period OF
"free insurance" existing under the
withdrawal feature Of the old law Is
eliminated, and increased remunera-
ton Is allowed the assessors for soil
citing and writing insurance applica-
I tOns.> III.
A district system Of indemnity
will replace the four-district plan
The new district actually will be the
first district, comprised Of all counties
with loss ratios not exceeding one per
cent, and will have basic number
of three. The expected tax rates in
this district will be ''very low and are
offered as an inducement to farmers
with land in counties ordinarily i'm
mune to hail." olsness said.
"Our compiled statistics show,
Olsness said, that had private insur-
ance companies carried insurance on
the same acreage that the state has
insured for the past IL years the cost
would have been twice as much as
the state charged. The l3-year aver
age saving In the state Of North Da-
kota is over $50 per 81 900 protection. y