OCR Text |
Show EXPENSE QUESTION HIGHLY IMP HI Annual Report of the Superintendent Superin-tendent of Insurance of New York. ALBANY, N. Y.. Jan. 26 -In line with the recommendations of Governor Dix in his annual message, to the effect, tiial the "lime perhaps has come when in fire, casualty, cas-ualty, employers' liability and similar lines of insurance; means should he d;-i?ed, d;-i?ed, as was done with life Insurance siN years ago, whereby expenses and commissions commis-sions should be limited bj law and the cost oi" insurance thus properly reduced," the annual report of Superintendent Hotel) of the state insurance department will contain the following: "The expense factor to some fieijc of insurance Is now Upwards Of ) pel Cent of the premium. The question If. therefore, there-fore, whether the amount paid for Insurance Insur-ance particularly In the lire and casualty Delds is not, in Us expense factors, gieaicr than the 'service is economically worth. This question Is of the highest j importance. From the asKinK of the question to the easy conclusion that the government now growing .oar::.' more j and more paternal -cam do the work bet- j tor th m it is at presenl d b; i irporate insurance, the step Is not lung, it is In- ', deed bul part of a general movement toward to-ward the lowering of pr;. SB as to all i.in- nioditics ..f public necessity, through the reduction of profits, salaries and commissions commis-sions "Corporate insurance should be the first to recognise these conditions, and th-rtarur th-rtarur that It runs if they are longer allowed to continue, "In short, that the people may i- satis-I satis-I fied, through vales that are economically I ju.st, why ma not government set limits ! on the expense factor, either arbitrarily, j sr was done in the life Held, or after Investigation In-vestigation by departmental regulation?" |