PUBLICATION OF INSURANCE STATEMENTS.
Mr. Heffren's bill [H. R. 251] to amend Section 1 of an act in regard to foreign Insurance Companies.
Mr. HEFFREN hoped that the report of the Committee to indefinitely postpone would not be concurred in. He could not see any reason, and did not think any member could see any good reason why two papers in the city of Indianapolis should have exclusive right to publish these statements. Not one-tenth of the voters of the State take these Indianapolis papers. He was in favor of having these statements published in the papers of the different Counties of the State wherever these Companies have established agencies.
Mr. SMITH, of Tippecanoe, was in favor of good Insurance Companies, and very much opposed to poor Insurance Companies. He desired to be fair to the Companies as well as to the people, and he thought this bill would require the Companies to publish statements in ninety-two Counties, which he thought would be somewhat of a hardship.
Mr. WILLIAMS, of Knox, desired to say in behalf of the Committee that this report reflected the sentiment of each individual member of the Committee. After a careful consideration of the question the Committee decided that the beat thing to do was to leave this law as it is now. The present law has given substantial satisfaction to the Companies, and substantial satisfaction to the State officers.
Mr. JEWETT moved that the bill be recommitted to the Committee on Insurance, with instruction that the bill be amended so as to require Insurance Companies to publish these statements in the papers of the several Counties in which said Companies were doing business. The motion was agreed to.
Mr. Montgomery's bill [H. R. 246] to compel Foreign Insurance Companies doing business in this. State to pay judgments rendered against them in one year from the time the judgment was rendered, unless an appeal is taken, was recommended to be indefinitely postponed.
On motion by Mr. MONTGOMERY, the report of the Committee to indefinitely postpone was laid on the table, and the bill was ordered engrossed.
