Fire insurers re-enter Arkansas.The April 1907 issue of Best's Review (property/casualty edition) reported passage of the Browning-Lee Bill and what it meant for fire insurance companies and Arkansas. One section of the Arkansas Antitrust Law of 1905 restricted insurance companies from doing business in Arkansas by penalty of a fine or forfeiture, if they were members of associations accused of fixing rates within the United States. It forced nearly all insurance companies out of business within Arkansas' state lines. There was hope when the Browning-Lee Bill was passed in 1907. The bill nullified the particular section of the Antitrust Law and allowed insurance companies to carry on business in Arkansas. Yet, there were some restrictions--insurance companies were free from penalty so long as they made no attempt to fix rates on Arkansas property. |
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