Show AT ANNUAL BANQUE Fifth Yearly Spread of Utah Association Held at Commercial Club GOVERNOR SPRY PRESENT WILLARD DONE MAKES SUGGESTIONS SUGGESTIONS SUGGESTIONS IN INTERESTING PAPER The fifth annual banquet of ot the Utah Association of Life Lie Underwriters held at the Commercial club last night brought out every member of or the organization organisation and a score or so of their wives and daughters The banquet was vas a most dab elaborate orate orte affair while the presence of Gov Governor Governor William Spry and other men prom in life gave it a touch of official dignity The Insurance men had prepared a pro program program program gram which followed the banquet Joseph Josph Meltzer president of the association in 1 Rev Elmer I 1 Goshen toast toastmaster t toastmaster asi master of the evening F E Francisco Franciso delivered an address upon Our Association Association ston Past Pat Present and Future told of the work the association Is doing dOig among life Insurance men Willard Wiard Done representing representing Colonel George Gerge B Squires state insurance com corn commissioner missioner read a paper which reflected the work being done by the department After reviewing the history of the de department department and its relationship to insurance Insurance insurance ance men Mr r Done made the follow following ing Suggests Some Changes I 1 can name only a few changes S As Asto A Asto to additional help A great deal dea of trav tray traveling eling in the line lne of doing the necessary work of or investigating complaints and the standing of companies and the work of agents makes it I necessary that more help be allowed Then the illness Iness and conse consequent cons consequent quent disability of the th commissioner should be b provided provide for by the creation creton of the thc office offic of o deputy commissioner It I seems to me that no serious question could be raised as to the advisability of allowing this small smal additional expense In Inthe Inthe Inthe the department nt for the reason that it t twill will wi collect and turn over to the state st treasurer each ech year er some 0 more than the tile cost of conducting the department Indeed one life Ufe insurance company will wi pay py In fees fes and taxes this year the en entire entire entire tire cost of the department including the salary of the commissioner While I think that no one doubts that discretionary powers may rightly BG as assumed a assumed and exercised by the commission commissioner er yet it goes gos without saying that it i would be better if they were explicitly stated For example certain acts act are made criminal offenses by the law and andI I am ani of opinion that it I should be made the duty of the commissioner to revoke the license of the offending company 01 em 0 agent in every case cs where he has un undisputed undisputed disputed dispute evidence of the offense The law should be strengthened in its Is it supervisory power over assessment ann ami fraternal associations I think there are arc area arca a number of splendid provisions in the law of the District of Colum Columbia Columbia bia bla referring to assessment associations which could well wel be made a part of the thc Utah law For example these thes require requirements ruie ments ment That each tach association on shall certify in full that fy Ly that its Is it losses are paid tul each one shall file fe bonds or other securities ties tes of oC a prescribed amount with wih the com corn commissioner commissioner missioner for tor the protection of its is policy policyholders policyholders holders in the state that a statement of the condition of the association as asa asa asa a test of its is solvency shall be b made to the department each year and that all al such associations shall be b required to is issue il Issue sue uniform certificates or policies to be previously approved by the commission commissioner er u If I the fraternal associations are ex exempted exempted empted from these thes requirements requirement or any of them it I should be b only on condition that the commissioner shall shaH be given dis discretionary dis power to satisfy himself himsl in some other effectual way of the solvency and good faith of such orders and an that their go officers shall answer in full tul the th questions proposed by the fraternal corn com committee cm of the National Association of ot In Insurance Insurance In brief I think as much care cre should hould be taken to eon con cn conserve serve lre the Interests of Insurers Insurer in asses ISIS ment life associations a a as in assessment fire fie associations Protect Policyholders Provision should be made for the pub publication of bulletins and other pamphlets pamphlet by the th department and exchange of these theM with the departments department of oC other states Provision should also be made for the tho preparation and publication of a some somewhat some somewhat somewhat what extensive report of the work of the department including such Information and comment regarding companies as would be found necessary to keep the In Insuring Insuring Insuring suring b public informed Fuller Fuler provision should be made mae for the examination of companies b and ad the publication of or the there re results suits of such examinations And I think that the cost of such examination should be borne by the company whether it be bea b bea a Utah company or a a foreign one on The rae cost of publishing the report of oC the ex cx examination must of course coure be borne brne by bythe bythe bythe the department department It Is always necessary for several hundred copies of ot such re reports reports ports to be published and distributed to various persons and officials interested and this is somewhat expensive Thanks to the foresight and thorough knowledge of oC those who framed and en enacted enacted enacted acted the insurance law of Utah Uth it I needs neds tut Lut few amendments I have indicates indicated should take the general direction these thes Others will develop as a the present year yer passes and the next legislative session occurs I 1 doubt not that necessary ne r occur amendments as the need nee of them the be bc becomes becomes amendment a will be wise wisely wisely comes more mor fully apparent 11 wis coms ly made by the legislature As insurance Insurance insurance ance Is the th most mot important and the most mot sacred business in existence because its is fiduciary trist so should the laws regulating It be the best that can pos possibly possibly sibly be enacted The Th Utah law la the Burton b insurance enace law named for the state senator I am glad to see s with us tonight comes nearer to the high Ideal of the framers Cramers of or such laws than any other I know of of 1 I am sure that any changes attempted either along the lines In s sI I have indicated Indicted or any other will I have but one object and that will wi be to bring object it still stUl nearer to that ideal Idea Dr E V Silver gave a a talk on life Ufe insurance from the examiners examiners standpoint which was followed by an address addre on The Inspiration of Woman roman by Will vm G 0 Farrell Following the regular program Informal Farrel talks were made by Governor Spry and others A happy feature of the evening was the rendition of oC two solos by Miss Irene Strang accompanied by Pro Jor or J J 3 McClellan and a piano solo by Professor lan sor During the banquet a pro program gram grain sr of music was given by the orches orchestra tra tm ira |