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Show THE CITIZEN. Intermountain Lloyds Forges to the Front A Home Enterprise Comes to Fill a Long-fe-lt Want. Reduced Rates and Improved Service. Not in the Combine The intermountain region Utah, Idaho, Wyoming, Nevada and Arizona is seeing the rapid growth of an insurance organization all its own. Intermountain Lloyds is the name of it. Its home office is at Salt Lake City. The need of home insurance has Jong been sensed, and its coming is fortunate event in these mountain states. It augurs well for the future when local capital interests itself in furthering local enterprise. One Million Capital. million-dollA institution is the initial goal. Deposits of approved securities, in the control of the State Commissioner of Insurance, total at this writing over $650,000, as compared to $300,000 six months ago. The indications are that the coveted goal of a million will be reached in another three or four months. How it Functions. Intermountain Lloyds follows a plan quite different from that of other insurance companies. Though not affiliated with, it is patterned after Lloyds in England, the oldest and now the largest and soundest insurance institution in the world. Lloyds was originally the name of in Tower street, Lona coffee-housdon. Here the terms of a risk would be posted on the bulletin board, and a willing underwriter would signify his assent by writing his name and the part of the risk he assumed directly under the stipulations of the risk. Thus came into use the word underar e, writer. and the securities he has pledged are part of the reserve set aside to pay losses in the event the premium reserve should be insufficient. Six Hundred Underwriters. Confidence in the institution is alMore than six ready far-reachin- g. hundred prominent bankers, business and professional men in the intermountain territory are today underwriters in Intermountain Lloyds. They constitute Intermountain Lloyds.' But so many men engaged in the same undertaking cannot cooperate without organization. Hence, every underwriter appoints The Associated Underwriters Corporation, of Salt Lake City, which is incorporated under the laws of Utah, his agent to bind him in the underwriting of risks, in the proportion his unit bears to the whole, and his manager to care for the business, pay the losses and distribute the profits. The corporation is owned by its directors, and they are the management. Operating Costs Limited. Commissions and other acquisition costs and all overhead are specifically ' j Lawyer, Doctor, Merchant or engaged In some other puranit you will find "Everything for Your Office" at I KELLY COMPANY Was 4181 Waa 4180 ?iiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiliiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiii" r . 1 s 5 5 s For example: Intermountain Lloyds, as stated, gives for $90 the same coverage that other companies give for $100. Of that $90 it sets aside $27 for acquisition and overhead, and $63 for losses and profits. Other companies set aside $45 of each $100 for acquisition and overhead, leaving only $55 for losses and profits. Personal Service. With Intermountain Lloyds every policy is a promise to pay one hundred cents on the dollar. When the time comes, this promise is made good. Adjustment of the loss is prompt and fair, and payment speedy. From the standpoint of the policyholder, the great need is prompt payment of his loss. Holding a policy in Intermountain Lloyds, a home institution, he may take up his claim direct- - The Management. Seth Pixton, Utahs Banking Commissioner, is president; G. L. Truitt, an insurance executive of long and wide experience, is and vice-preside- nt general manager; R. L. Conely, an banker, is secretary and treasurer. The, list of directors contains names known and respected in the intermountain country. Both the management and its staff are well old-ti- me equipped to give the enterprise sound direction and the insuring public high grade service. Multiple Insurance. Intermountain Ten-PoiLloyds Householders Policy is an example of nt modern multiple insurance. For a yearly premium of $12.50 it protects the householder from ten different kinds of loss. Being out of the combine, its hands are free to serve the intermountain people in a better way, and at lower cost. It also sells straight fire and automobile, and, as the need is felt, other lines will be developed. JUNE is the month of weddings and cooing. The billing follows. Atlanta Constitution. Wisconsin trout streams do not choose to run? New WHAT if those York Sun. ONCE in a while you see a man who doesnt want any more money. He is holding a lily. Buffalo News. iiiiiiiiiiiiiiniiiiitiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiiitti)iiiiiiiiiniiiiiinifiiiiiiiiiiiiiiiiiiiiiiiniiiinHinimiiiiiniiitiimiiiHiiiiiiiiiiiiiiiiiitiiiiiiiiiiiiiiiiiiiiiiiiuiiiiiiiiiiiiiiiiii i TO THE INTERMOUNTAIN PUBLIC: I We, Intermountain Lloyds, ask your patronage your insurance because we are a home institution, and the money ,you pay us will stay at home. We come to you because we too are intermountain people. We, therefore, know your needs, and, knowing them, we can give you betters service at lower cost. j From marine insurance Lloyds extended to fire, casualty and other iiiiiiiiiniiiini lines. It is perhaps the originator of limited to a percentage of the gross multiple insurance, a plan of covering Thus, the plan has the admany hazards in one policy, taking premiums.of placing the management the loopholes out, and giving greater vantage ever upon its mettle. It cannot let the protection to policy holders. Its flexoperating costs exceed the limit. ible organization makes it a powerful These costs (acquisition and overfactor in the insurance field. cent Intermountain Lloyds is organized head) must not exceed 30 per 70 of the gross premiums, the other along the same lines, modified to meet cent being set aside for losses and American requirements. Mr. Jones, per profits. Tve will say, decides to become an unIn an ordinary company perhaps derwriter. He pays down $250 in because its risks are widely scattered cash, his share of development exand because it needs a corps of genpense and operating fund. At the and branch managers same time he deposits with the Utah eral agents the operating expenses cannot be fixSavings & Trust Company, of Salt Lake City, $1,000 in high grade, liquid ed. In consequence, they average around 45 per cent, leaving only 55 securities, approved by the State and profits. The Commissioner of Insurance and under per cent for losses cost mounts the the joint control, as security for the pay- higher the operating cut into the premium redeeper. ment (if need be) of policyholders losses. Mr. Jones is now a qualified serve. Cheaper Insurance. underwriter to the extent of one unit, insurigj.llllllllllllllllllllllllltllllllllllllllMIIIIIIIIIIIIIIIIIIIIIIIIIIIIII home office and give it a greater measure of personal supervision. General agents and branch managers are done away with. Local agents are the only field men. The result is a substantial saving, and this saving is passed on to the insuring public. For $90 Intermountain Lloyds offers the same insurance that other companies offer for $100. More Protection. At the same time, the premium reserve, which is the policyholders protection (in addition to the securities that are pledged), is by this operation actually increased. Intermountain Lloyds writes ance in selected territory. There are no congested centers, and the moral hazard is good. Close contact enables Intermountain Lloyds to choose its risks, thereby doing away with abnor- mal losses. Being localized, it can control its business more from the SETH PIXTON, President. From now on till the election in November the politicians on each side will do their best to prove that the rank and file of the people are on their side and the rank and vile on the other side. Pathfinder. SEND IT TO THE LAUNDRY . nit ly with the home office, and from its staff obtain personal and understand- ing treatment. The Combine. A combine has existed in the insurance business for many years. Risks are uniformly graded, policies standardized, and premiums fixed. True, companies in the combine continue to function as separate entities, each with its own staff and, agency force, but that is about all. Those in the combine all sell the same policies at the same price. Intermountain Lloyds is not in the combine. It is the only company in this locality that isnt. It is free, therefore, to sell any kind of policy the law permits, at any price, consistent with good underwriting. Some in the combine are now telling their agents, If you write business for Intermountain Lloyds you cant write for us. A sort of boycott is on. But every such knock is a boost. Times are changing. The trend in the West is away from eastern combines. Intermountain Lloyds is going with the tide. It welcomes the Distinctive Work Hyland 190 Fish and Feel Fit The Season is Now Open dont Forget your FISHING TACKLE at JASEEt WHATjYOUkSA 224-22- 6 State St. V |