Ogden Standard-Examiner | 1923-07-19 | Page 2 | Seeks Frauds in Insurance

SEEKS EKS FRAUDS IN INSURANCE ma prop Proposes ses Law to Prevent Losses After Lapsing WASHINGTON July 19 IS fiB As As Asserting that Insurance nce hae e confiscated millions of ot lars lol-lars lars lare because of ot by policy holders holder e Thomaa Thoma Democrat or of o Okla orna he be would woud would a abill abill abill bill In the next congress to guarantee to the public I hll h full benefits under all oil Ins lra ce policy contracts The money held by th the corn com companIes com companies panics Mr J 1 homas said consi 5 of funds which rightfully don to the estate ot or sons er er- er sons eons who ho permitted their policies to lapse litter after m ft a sufficient lumber of annual premium pay y payments ply ply- ments mente to Ih give gise e their policies 1 i L paid paid- paid up Up or 01 extended Insurance value Failure of the tha compel compa ice ies to fUll fully ad adIse Ise rs 0 of Ih the value UK-value alue ahle ot or their policies Mr r or or orth orth Thomas said Is Ii responsible th- th th condition Many ho hll have e per PH- permitted per permitted mUted their policies to lapse he said Mid do not know such policies liae ha a salue alue It if they a In force for tor or more than thre throe e elS and the Insurance companies tik- tik tik-Ing tik Ing nd antage Ild of this hI to notify them of such alu alu Mr Thomas said he had mede matJe madean an Investigation ID of the subject ed that during the tho past 21 sears eara hundreds of of policy hM have hase c permitted in insurance n- n aggregating ten billion dol dollars lars ICon to lapse lapsa and through failure to make claims for tor the surrender alne of ot their Insurance have per per- per permitted er- er the ln In effect t to confiscate te hundreds of minions millions of dollars