Lloyd's

For many years, the insurance business in New York State has been increasingly regulated by the state. Ever since the famed insurance investigation of 1906, during which Charles E. Hughes established his reputation in public life, the statutory control has been searching and severe. U. S. insurance companies have been supervised, not only in the kinds of insurance they offered and their methods in so doing, but also in the kind of investments they could hold.

Meanwhile, the old firm of Lloyd's in London has done a very large business in the U. S. Lloyd's, world-famous for its marine insurance facilities, has also been accustomed to take all species of risks. In one well-known policy, it insured a gentleman against having twins. The result has been that, in this country, Lloyd's has been able to take much business that a state-regulated U. S. company could not accept.

This has at length stirred up opposition. Some of the U. S. companies have demanded that Lloyd's, as a serious competitor, be forced to subscribe to the same conditions in the business by which they themselves have been bound. Also, the State Superintendent of Insurance, James A. Beha, last week declared that, in the case of disputed claims, U. S. citizens were not adequately protected and had no way of bringing pressure to bear in London in behalf of their interests.