REPORT OF THE COMMISSIONER OF INSURANCE.    ix
itol fire. The balance of the loss on the capitol building was
paid in the years 1907, 1908, 190;9 and 1910, in addition to the
various other losses that occurred on state property during these
years. The total losses outside of the capitol building and con-
tents have been $12,295.95, all of which have been paid, so that
the State Insurance Fund at the present time is clear of all
debt except the amount transferred from the general fund in
the years 1903 and 1904.
As shown from the statement of the assets and liabilities, the
present balance in the fund exceeds the total liabilities, includ-
ing the unearned premium and the amount transferred from
the general fund, by $45,184.22. Now that the loss on the cap-
itol building has been paid, the fund will undoubtedly increase
quite rapidly and provisions should be made for obtaining the
benefits derived from interest earnings. The fund should be
accumulated until there is at least a sufficient amount in the
hands of the State Treasurer to pay its largest policy and main-
tain its unearned premium as a liability. The small amount
paid for losses outside of the claim for the loss on the capitol
building shows the great possibilities of this fund for furnish-
ing safe insurance at low cost for public buildings.
Since July 1, 1912 an inspection has been made of the state
property and all the county property which has been insured
in the fund. Reports have been made up and sent out to all
the institutions inspected, pointing out hazardous defects and
suggesting certain improvements that will be of value in re-
ducing the fire hazard.
The heads of the various institutions throughout the state
have taken a personal interest in these inspections and have been
anxious to comply with the recommendations made. The dif-
ferent boards in control of the state property have given some
of their time to the reports submitted to them and are follow-
ing out the suggestions wherever possible. These inspections
are to be made at least every six months and with the co6per-
ation of the various boards and superintendents in charge of
the institutions, should be of value in reducing the fire waste,