Show REGRETS DRASTIC REMEDIES rochester N Y oct 9 senator armstrong chairman of the insurance investigating committee left for new york last night on insurance matters before leaving chairman armstrong issued this statement 1 I regret very much to see other states apply drastic remedies in advance of action in this state our committee was appointed to investigate conditions in tho insurance ranco business and propose remedial legislation I 1 sincerely hope other states will wait until we have had an opportunity to complete ow work these insurance companies arc perfectly solvent and are able to carry out every contract they have made or may make there is no reason for refusing to permit them to continue to do it nevada proposes to do one thing missouri another thing and some other state still another thing there will he a chaotic condition 0 affairs I 1 believe there is due at least the courtesy to new york state to wait until the investigation is completed and our remedial legislation is applied our committee will nuke the most thorough investigation possible and when we are through we shall make it our business to adopt such legislation aa will safeguard the policy hold ers and make the insurance business safer and sounder and more attractive than it has ever been before if other states jump iu before we ciui complete our work or can adopt any legislation everything will bo contusion in the insurance business of the country another point when a number of western insurance commissioners were in new york recently we had a conference with them and re promised to submit to them tor tir suggestions what remedial legislation it wag proposed to adopt in way wo hope to secure uniform action in all the states it is not right for other tates to take action after our committee has been at work only four weeks and long before we have reached the end of our investigation any action they might tako at this time would be premature our committee was not appointed to tear down the insurance business of the country but to build it up wo are simply tearing down some of the rotten timbers to get the right foundation on which to build we are trying to do this work man fashion thoroughly and conscientiously it is not a pleasant task at best but we are not dodging and shall not dodge any responsibility the insurance body is bound but Is afflicted with some ulcers we aro performing a operation for the removal of ulcers from the body not trying to fiill the insurance body because we have discovered some rottenness it ie not right for outside states to cripple tha insurance business and handicap our efforts |