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Show NEWS OP THE INSURANCE WORLD Will Revise Accident Policies. Accident insurance policies arc about to be shorn of many of their present "special" foaturea, referred to by some people as "frills," but known to accident insurance men as "talking polntH." A short time ago Insurance Superintendent Superintend-ent Hotchklss of Xew York issuod an order or-der requiring accident companies doing business In his ntato to fllo with him by September 1 all forms of accident policies poli-cies issued to tho various classes of pol-lcyholdere.a pol-lcyholdere.a It was hlntod at tho time that If any such forms did not meet the requirements of tho New York laws recently re-cently enacted tho company or companies, compa-nies, as tho case may be, would be asked to amend or withdraw from tho state. Tho matter came up before the conference of accident companies held In Albany, N. Y on Wednesday last week, at which Superintendent Hotchklss and Superintendent Hardison of Boston, Mass., wcro present, by Invitation. There wero In attendance about sixty officials of accident Insurance companies In both this country and TfJurope. and tho two subjects discussed wero: "The Elimination Elimina-tion of 'Prills' from Accident Insurance Policies" and "Tho Requirements of the New York and Massachusetts Insurance Departments Under tho Standard Provisions Pro-visions Act for Accident and Health Policies." Poli-cies." A special committee was appointed, appoint-ed, which later recommonded tho elimination elimi-nation of certain parts of the double indemnity in-demnity clause, such as aro given by nearly all tho leading companies for accidents ac-cidents In burning bulldlnpr and In elevators; ele-vators; also that there bo a restriction restric-tion of tho payment of double Indemnity for accidents of travol In public conveyances. convey-ances. In vessels, stoam and trolley cars, excluding cabs, automobiles and livery rigs. Tho committee also believed that optional benefits, the extending of beneficiary bene-ficiary clauses to Insurance on children and Indemnity for sunstroko might bo eliminated. Beneficiary and accumulative accumula-tive features, it -was thought, might be restricted, although S. C, Dunham, president presi-dent of tho Travelers' Insuranco company, com-pany, tho originator of the accumulative fcaturo. would not commit his company on this recommendation. In health policies poli-cies It was advocated that the quarantlno clause, providing for doublo indemnities, be eliminated and that indemnities be not allowed during the first seven days of sickness. The committee's report was xipproved and tho committee was continued con-tinued for the purpose of formulating some practical plan for putting Its recommendations rec-ommendations Into effect. An adjournment adjourn-ment was taken until September 10. at Breton Woods. IsT, H. Superintendent Hotchklss extended the time for filing forms of policies to October 1. Fraternal Bill Approved. The National Fraternal congress, which has been In session during the past week at Detroit, after a two days' meeting, approved ap-proved the tentative bill prepared by the sub-committee on fraternal Insurance of the Insuranco commissioners' convention without any substantial change and no change whatever in a single principle for which tho bill stands. A number of minor mi-nor suggestions will bo conveyed to the Associated Fraternities of America which meets this week in Atlantic City nnd the Insuranco commissioners' convention in New l-JampshIro next month, for concurrence. concur-rence. Itcsolutlons denouncing fraudulent fraudu-lent mergers of societies were adopted and laws recommended for the safeguarding safe-guarding of the funds of members of merged societies. II is reported that negotiations are being be-ing undertaken to unite tho National Fraternal Fra-ternal congress and the Associated Fraternities Fra-ternities of Amorica. The two organizations organiza-tions split some years ago on the question ques-tion of adequate rates. Insuranco Commissioner Folk of Tennessee, Ten-nessee, was ono of the speakers at the congress and he sounded a warning to the effect that If the fraternal leaders do not at this time sec the necessity for reform, that the only way that necessary changes in the matter of adequate Kites may be secured, will bo through an aroused public sentiment which may not be particularly discriminating in the methods which It employs to correct ob- : vious evils. Mo argued that if the fraternal fra-ternal leaders would co-operate in a friendly spirit with the Insurance commissioners com-missioners In the matter of legislation, that the hest results for the present and the future would be secured. ' Workmen's Compensation Law. I After two weeks of more or less strenuous stren-uous labor the committee of companies , writing liability insurance has prepared new rales and forms of policies to meet I tho conditions created by the workmen's compensation law which goes into effect in ihc state of New York on September J. Tho Importance attached to the work of l t. s committee lies in the fact that other stales arc expected to follow New York's example and enact laws having for their object the compensating of workmen who arc Injured while In tho discharge or their duties. The companies Interested have agreed to cover workmon's compensation com-pensation hazard in combination with I employers' liability at a minimum annual premium of $10 for a limit of $5001) of I the insurance company's liability, exclud-f exclud-f Iiur blasting operations for which an ad-. ad-. dltlonal minimum premium of $25 will bo ! chat-Rod. For Ironworkers the premium based on each J100 of tho payroll Is $7,611 for employers' liability. $4.1)0 for public liability and So for workmen's compensation. compensa-tion. For mine workers the premium is $a for employers' liability, $1 for public liability and $1.25 for workmen's compensation. com-pensation. Tho limits of liability are $5000 and $10,000. If larcer limits are required a diminishing: table of percentage percent-age Is offered. "Mob Insurance" Policy. In England another form of policy has been devised, presumably to meet the riot and civil commotion hazard. It is called "mob Insuranco," and Is written for tho purpose of affording protection to merchants mer-chants and others ngalnst possible losses throuKh rioting: or looting by the unemployed. unem-ployed. Tho hnzard con tors In certain localities, lo-calities, whero a mob is likely to form. Tho parliamentary buildings aro regarded as a sort of a storm center and tho business busi-ness people of that vicinity are taking- to the Idea readily. Tho rates run from 25 centa to 50 cents per 5100. Texas Solons in a Parce. The calling of a special or extra session of tho Texas leglalaturo by Governor Campbell has ended In a farce so far as the enacting of any new Insuranco lcgisaltlon is concerned, and which was tho chief cause of Its assembling. Both houses adjourned at midnight on the night of tho 18th Inst, after houra of fruitless wrangling. Not to bo outdono, the governor Immediately Issued a call for another extra session next month, when the whole matter that has caused so much trouble to Insurance companies and tholr representatives will havo to be thrc3hcd over again. Insurance Notes. In order to reduce the expense of maintenance main-tenance while the plant waa Idle the Gold Issue Mill Mining company near Cripple Creek, Colo., cancelled all of Its flro Insurance In-surance and on the 20th Inst, tho plant was dostroyed by a bolt of lightning, the loss being estimated at $200,000. The Salt Jako board of fire underwriters underwrit-ers will meet in regular session at tho Commercial club rooms on Saturday. September Sep-tember 3. commencing at 1 p. m. President Presi-dent Johnson Is desirous of a full attendance attend-ance of all members, as business of Importance Im-portance is to bo transacted. The agency force of the accident department de-partment of the Pacific Mutual from Utah, Idaho and Nevada were in Salt Lake on Friday last, tho guests of Manager Man-ager It. n. Cameron. TTiero wero ten ajjenls In the party, accompanied by their wives and sweethearts. They attended the organ recital at the tabernacle and were afterwards taken to tho lake, where they enjoyed a bath iand a banquet in the ship cafe. Manager Cameron was voted "a jolly good fellow" by all tho visiting agents. The Marvland Casualty of Baltimore, which Is represented In Salt Lako City by Windsor &. Co., has Just been licensed by the Canadian government to transact the following additional lines: Plate glass Insurance, burglary Insurance, and fidelity and surety bonds. The company has deposited with tho Dominion government govern-ment $225,000. The wave of sentiment In favor of stntcl rcguatlon of fire Insurance rates has reached the stato of "West Virginia. A committee representing the Travelers' Travel-ers' Insurance company of Hartford, the Preferred of New York and the General Accident of Perth, Scotland, has been appointed ap-pointed to consider tho best means for securing the repeal of tho Missouri statute stat-ute prohibiting life and accident companies compan-ies from pleading suicide as defense against payment of claims. Salt Lake City during the past week or so has received considerable advertising from the Insurance press of tho country on account of the published tabulation of the suicide statistics, furnished by tho actuary of the Prudential, placing the city second In increase for 1909 and filth In the highest number. Thomas W. Duclcels. special agent for ihc SvcaiFIrc Insuranco company of Sweden, Swe-den, with headquarters in Denver, Colo., was a Salt Lake visitor on Saturday last. C. P. Jones, auditor of the "U'es-t Coast Life, San Francisco. Cal -who enjoys an Immense popuarlly among tho field men, will bo in Salt Lake City the latter part of the present week. Although nothing definite is known as to tho purpose of Mr- .loncs's visit, it is hinted that ho is coming to look over the field with a view of making a few investments here for his compnny. The Pacific coast agents of tho Travelers' Trav-elers' Insurance compans' held their annual an-nual mooting at Lake Tahoe, Cal., August Au-gust 1H-20. while the eastern agents will meet at Frontcnac, Thousand Islands, September 15. Fifty-one agents of the Metropolitan Life at Wllkesharrc. Pa., who struck for higher commlslonB. have been dismissed from the company's service. The Into Dr. R. J. Hyatt, whoso death occurred asl week carried a 510.000 life policy In one of the regular old ino companies, com-panies, which Is left to bis estate. |
