FOREIGN INSURANCE COMPANIES.
The Committee on Insurance reported on the bill [H. R. 494--see page 102 of these Reports, vol., 20] to regulate foreign Insurance Companies doing business in this State, recommending its passage.
The report was concurred in, the bill was read the second time and ordered engrossed.
Mr. BUSKIRK said this was a very important bill, and moved to suspend the constitutional rule, that the bill be read a third time by sections and put upon its passage.
The motion was agreed to--yeas, 68; nays, 6--and the bill was read the third time.
Mr. KENNER--There is a simple amendment that I would like to get into this bill. I will you why. Under our present laws are is a discrimination against one Insurance Company known as the Underwriter's Agency. It is composed of two Companies, the Germania and Hanover, both of New York, both doing business under the Underwriter's Agency. The Auditor of State construes this combination and says there are two Companies, and increases the expense just double to that of one Company. They only issue one policy in one State, and it is unjust discrimination against them. It would save them several thousand dollars. I want to insert after the word "Companies" the words "Or Insurance Organizations." That lets them out.
The amendment was agreed to and considered engrossed.
Mr. BUSKIRK said this to meet a class of cases that I know of where the Company did business, took risks and then left the State. In one instance the judgment was out, but they could not be reached. One case where a widow woman was kept out of a large amount of money due her, and we could not get service because the Company closed to have officers in this State, and there was nothing upon which we would get services, and the only thing to do was to take an attachment, which is troublesome. One of the principal objects of the bill is to meet cases of this kind. I hope the bill will pass.
The bill passed--yeas 58; nays, 13.
