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Does The State Protect?

Does The State Protect? image
Parent Issue
Day
10
Month
November
Year
1897
Copyright
Public Domain
OCR Text

Tlie fodlOTVÏng, relativo to insurancc compiaaiee ctolag business In Mie si a te, i's beiüig puiblisdited by ílie presa o; tbc state. : 'It has eonve io the ksuowledge o t'-he state liisuira.iu.-e depar tanen t thai tlhe olMaena oí thia state ure, in many lo'aliii.s, bei ïiï swinill.Ml a.n:l ■lofrav.ded by wortliloss and irresponsible iiBurance compamleis. Companlwe tliat havo amy fiuancial B tanding deeli'lng to do biisiimess In t'hi8 afcate wiil mul do coniply wilth out laws, but comI:i 11 iLs whfl a,ie notë aurtliorizod to wiiie ineiirancO in tJiis state, have ivo standing bero wha.tever, aud s'lioujd a loas occuï, tlie iiisiii'ed wouttd ba without legal remedy la the, state. The agents BOlk'i! ''or suich fraudulenit compontes or aid in placinp policles for them are crimiinals beiore the la.w. Several tires have lat-ely occurred wüli iiisurance 1 1 such comipanies and not a dollar O; loss lias boen recovered and vhe deparrmen't is powerless to aid. A Wst of sorne of these cUsreputable, out-law concerns now known t o the departinenit and ottoere, has beeii pubïtsbed. Most of these are mere mythe wiithout leigal existeaiee nnywhene, bot are ecatteritog policles liMirt collectiiiiar piieiniuins w herever tílioy can. Tlua pulblïc should be irui'irdetl careiiilly jn, tilnese mattere, a.iu! Icitow thoroughOy tlie. kind of oompamicvs in wWch thcty are Insnred." "Now bow mach is vhe sbate-'s guaranite worth ? We know a poor woniia.ii -wlro was indaiced to invest $500 n1ouit all sbe possessed, in the late ' Granlite State Loan Association, do■ini? business under state authority. When sh gave vip the money the person wlio represented tlie company ' figreed to make over to lier as wecurity a mortigage upon property In Kapide, whichthe lady fcnw waiS g'ood. The promiso was ot fulfi 1ed. Tlie ouitcomie te that tliis lady wUt probably niever jjet one ponuy of Whnt she iin-ested, a.nd upoui which Bho w.as depeiidins support in her oíd age. I-in't tlwiM; a crew loose eojnew-hene ? Il there was ever a. swindle perptratl in this worid, tha.t transaction was a swwidta of the veii-y dirtiest and meanest type.

Article

Subjects
Old News
Ann Arbor Courier