Adn 345,2 NH 920 59966 Trans from 11Bs to Law Sch NEW HAMPSHIRE ESTABLISHED 1851 BOARD OF THREE COMMISSIONERS SERVED UNTIL 1869. Following is list of commissioners and terms of service since 1869. The seventieth annual report of the Insurance Commissioner is submitted in the following pages. In order to curtail the expense of printing and to make the report as concise as possible, its form differs somewhat from those of former years. In the re-arrangement of the material for its presentation, nothing has been subtracted from the information usually contained in the report of the Insurance Department. DOMESTIC COMPANIES The Department has kept in close touch with the condition of the domestic companies. The Prudential Fire Insurance Company is retiring from active business and on September 1, 1920, reinsured its risks in the Commercial Union Assurance Company of London, England. By an agreement dated June 17, 1921, the control of the Granite State Fire Insurance Company passed into the hands of the New Hampshire Fire Insurance Company, a change in management which gives added strength to a company already recognized as one of the most reliable doing business in the State. These are the most noteworthy changes in domestic companies since the last report. WORKMEN'S COMPENSATION The administration of the Workmen's Compensation act which has been assumed voluntarily by the Insurance Commissioner prior to this time was definitely placed in the hands of this Department by a law enacted at the last legislative session. This law provides that classification of risks and premium rates are subject to approval by the Commissioner. LIGHTNING RODS During the year inspections under the direct supervision of the Department have been made of the materials and methods used in installing lightning rods. In the fixing of rates, credit is given for protected property. The following companies are licensed to do business in the State. Dodd and Struthers, Shinn Manufacturing Company, St. Louis Lightning Rod Company. INVESTIGATION OF FIRES In my report of last year I suggested that more authority might well be given to the Insurance Commissioner to investigate causes of fires and this was done by the legislature of 1921. Already the wisdom of such legislation has been demonstrated in the assistance which the Commissioner has been able to give those who have been endeavoring to fix the responsibility for fires of suspicious origin. BLUE SKY LAW With the passage of a Blue Sky Law in Massachusetts and Rhode Island during the year, all of the New England states now provide for the protection of their citizens from the sale of worthless securities. More than 85% of the states in the Union at present have such a law, all enacted within the last ten years. New Hampshire's law went into effect September 1, 1917, and is under the administration of the Insurance Department. The Department has denied licenses to applicants who have not met the requirements; it has revoked licenses of dealers operating in the State who have failed to comply with the law of the State and the rules of the Department; it has caused money to be restored to investors where mis A summary of business transacted by this division of the Department from September 1, 1917, to June 30, 1921, inclusive follows: SEPTEMBER 1, 1917 TO JUNE 30, 1921 INCLUSIVE Dealer's original applications received Dealer's renewal applications received Dealer's original applications denied Dealer's renewal applications denied Dealer's original applications withdrawn while under investi gation, unable to meet requirements of department.... Agent's original applications received Agent's renewal applications received Agent's original applications, denied or withdrawn 293 454 18 3 19 582 379 38 |