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Best's Insurance Reports; Casualty and Miscellaneous
Best's Insurance Reports Casualty and Miscellaneous Author:Anonymous This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ...was organized under the laws of Tennessee in January, 1898, as a fraternal society, and in February, 1900, became a stock company... more » with $20,000 authorized and $15,500 paid-in capital, using the title National Sick and Accident Association. The company adopted the present title in 1902. It operated on the assessment plan until January, 1905, when it reorganized on the legal reserve basis, and the capital was increased to $100,000, $50,000 of which was paid in in cash, and $34,500 by a stock dividend. In January, 1907, the capital was increased to $150,000 by a stock dividend. In 1912 it was increased to $200,000 by a $50,000 stock dividend. Since organization it has paid cash dividends of $329,150 and $134,500 in stock dividends. On June 30, 1913, it took over the business of the Arkansas Life Insurance Company of Little Rock, amounting to $1,378,936, all industrial. The company has had a good growth. Its investments are of good character and remunerative. It is ably and aggressively managed. The company was examined in January, 1914, by the Insurance Departments of Tennessee, Louisiana and Indiana. A careful and exhaustive examination was made of the claim files of the company for the year 1913. No evidence of any effort to take advantage of the insured or the beneficiary or to resort to technicalities was discovered. On the contrary, every effort has been made to effect settlements promptly and satisfactorily. No adverse criticisms were made by the examiners. The company writes industrial accident, health and life insurance. Territory.--Licensed in Ala., Ark., Ga., Ind., Kas., Ky., La., Miss., Mo., O., Okla., Tenn., Tex., and Va. Officers.--President, C. A. Craig; vice-presidents, W. R. Wills, N. H. White, T. J. Tyne, E. B. Craig; secretary and...« less