Identifier: liabilitycompens00blan (find matches)
Title: Liability and compensation insurance; industrial accidents and their prevention, employers' liability, workmen's compensation, insurance of employers' liability and workmen's compensation
Year: 1917 (1910s)
Authors: Blanchard, Ralph H. (Ralph Harrub), 1890-
Subjects: Employers' liability insurance Employers' liability Industrial safety Industrial life insurance
Publisher: New York, London, Appleton
Contributing Library: The Library of Congress
Digitizing Sponsor: The Library of Congress

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rding provision for insurance of thecompensation obligation. In eighteen states the re-quirement is made that the employer insure in alicensed insurance carrier or satisfy the administrativebody of his financial ability to carry his own risk—in some of these states the option is granted of insur-ing or filing a bond. Seven states simply require thatthe employer make compensation payments as requiredin the act, permitting him to carry insurance or not 1 The term pure mutual is used to designate a corporate insur-ance organization managed by salaried officials who are appointedby a board of directors, which in turn is elected by the policy-holders. A mixed mutual is similar to a stock company in or-ganization but dividends to stockholders are limited, any excessearnings above a fixed percentage being returned to policy-hold-ers. An inter-insurance exchange is managed by an attorney-in-fact who represents each of the members and who receives apercentage of the premium for his services.
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176 METHODS OF INSURANCE 177 as he sees fit. Six make it obligatory on all employ-ers to insure with some recognized carrier, whileone provides only for proof of financial responsibilityor the filing of an acceptable bond. The accompany-ing map indicates the provisions in individual states.2 Methods of Insurance Permitted.—While one-halfof the states have made no special provision for theinsurance of workmens compensation, leaving thefield to existing liability companies and to private initi-ative in forming new organizations, the remainderhave created new agencies for the exclusive purposeof assuming the liability created by their workmenscompensation acts. These new agencies have assumedtwo forms, the specially created mutual which owes itsexistence to the state but which is operated underprivate management,3 and the state fund which isoperated on the mutual plan by state officials. Ofthese states, seven, including the three which haveadopted the specially created but privately ma

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