Show S STATE TAT E. E INSURANCE FUND REPORTS PROSPERITY Expense of Operation Is Held Down So That Success Success Sue Suc Suc- cess Is Assured The first official report of or the state Insurance fund was I issued yesterday bv Lw Charles Chades A. A Calne CaIne state underwriter that the fund has hz's steadily Town grown since Its inception and that the loss ratio has been normal The expense ratio It I Is stated has been abnormally small and It Is II estimated that it will t not exceed 10 per cent for tor man many vears ear to come The law providing pro for or the thc establishment establish ment of the fund became effective e Jul July 1 1 1907 0 The report follows s Based upon our present experience we e anticipate the payment of a dividend divi l of or i 15 per per cent on nil all classes except except ex- ex c pt coal coal which on ac th the high reserve reser o of 7 72 YI per cent as against 60 per c cent nt nt are arc not entitled to the same participation Ir in excess accumulations The 27 7 7 per cent of premium consumption tion shown above c as unassigned re reserve reserve reserve re- re I serve mu must t be held until the end o of three o years cars and any additional saving sa I from this source will be distributed at that timeOut timeOut time Out cf ct a a. similar reserve held b by the California state compensation insurance fund on 1914 bu business Iness an average a special dividend of 20 per cent was paid In InS Our system and equipment are as complete as the they can be bo made and the fact that we give our claims dally daily In Individual Individual In- In adjudication Is an assurance to our poll policy C hold holders that their are receiving the highest possible con con- CLIENTELE IS GROWING I We U have hue added to our clientele some ome of Utah's most Influential Interests Interest and andas andas andas as all aro are extending their heartiest co cooperation cooperation cooperation co- co operation there Is no doubt of the success success suc suc- uc- uc ce cess s of th undertaking LIko all other insurance companies however It Is necessary to secure the greatest aggregate possible therefore ever every employer i Is Ie a most welcome welcome wel wel- come orne addition to our rapidly gro growing list of prospect prospective ire beneficiaries Inasmuch a as athe the state of Utah passed I I the compensation law It was as necessary esar also to provide a na way for the employer r i ito I I to secure such lIuch protection at the len least t i po possible co cost t. t he here e the establishment of i the state Insurance fund Wo Ye have hae already alread invested 60 In bonds Including In Liberty loan loans and the industrial commission has h authorized authorized authorized au au- au- au I another purchase of J making a total 1 of or 90 which next year rear will provide pro us with an additional income of about and ultimately ultimate we hope to invest sufficient funds so that the Interest will take care of the total expense Except the of or Liberty bonds all of the above is Invested In state rood road municipal and school district bonds and the money is used for Improvements Improvement of or various communities forming an additional additional addi addi- asset for tor or the state APPROXIMATION The State Insurance Fund INCOME E. E State appropriation Premiums Dep premiums 1153 IS Interest on bank deposits 2900 Section 79 79 9 non Incidentals I DISBURSE DISBURSEMENTS IE TS RESERVES AND BALANCES Return premiums payroll adjustments adI ad ad- etc J I Total exp expense nse Office equipment Current losses paid pair Unassigned balance Bond Investments n. n Additional authorized authorized authorized au au- au- au U Premiums out April earned and state Cash on hand is ll DISBURSE DISBURSEMENTS RESERVES RESER AND D BALANCES Projected to a semi-insurance semi basis the above c would appear as ns follows Return premiums payroll adjustments ad ad- etc Office equipment Expense 56 Cross reserve Current los losses es paid Id Reserve Resene to mature claims reserve H 04 9 Balance Includes unearned premium Premium consumption approximates as I follows Per Percent cent Office equipment 14 I Expense 51 Losses current 13 Claims to maturity Unassigned reserve ZO Statutory surplus requirement I Unassigned surplus I 1000 I |