New York State Insurance Department Annual Financial Statements of Cooperative Fire Insurance Companies B1301

New York State Insurance Department Annual Financial Statements of Cooperative Fire Insurance Companies

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Overview of the Records

Repository:

New York State Archives
New York State Education Department
Cultural Education Center
Albany, NY 12230

Summary:

By law, every corporation in the business of insurance must file an annual financial statement. This series consists of annual financial statements of cooperative fire insurance companies doing business on the assessment or advance premium plans. Statements contain a list of the officers and directors of the corporation and a summary of the corporation's financial affairs for the fiscal year ending December 31. The financial summary includes income, disbursements, assets and liabilities.

Creator:

New York (State). Insurance Department

Title:

Annual financial statements of cooperative fire insurance companies

Quantity:

77.6 cubic feet

Inclusive Dates:

1909-1966, 1974-1984

Series Number:

B1301

Arrangement

Chronologically by year and, then alphabetically by the name of the corporation.

Administrative History

Annual financial statements were authorized by an act of the legislature (L. 1892, Ch. 690) section 44 of which states that 'Every corporation, engaged wholly or in part in the transaction of the business of insurance in this state, . . . shall annually, file in the office of the superintendent of insurance a statement verified by the oath of at least two of the principal officers of such corporation, showing its condition which shall be in such form and shall contain such matters as the superintendent shall prescribe.' Cooperative fire insurance companies doing business on either the assessment or advance premium plans. Assessments were levied on policyholders at various times during the year according to the needs of the company. Cooperative fire insurance companies operating on the advanced premium plan agree to pay a premium for which they are billed in advance each year.

Scope and Content Note

This series consists of annual financial statements of cooperative fire insurance companies doing business on the assessment or advance premium plans. Each statement contains a list of the officers and directors of the corporation and a summary of the corporation's financial affairs for the fiscal year ending December 31. This financial summary contains the following data: income, disbursements, ledger assets, non-ledger assets, and liabilities. In addition, each statement generally contains several schedules which list such information as real estate owned, stocks and bonds owned or acquired, and banks balances. Each statement is signed by two of the principal officers of the corporation (President, Secretary, or Treasurer). Statements for the years 1909-1934 include corporations operating on both the assessment and the advance premium plans. Statements for the years 1935 - 1961 include only corporations doing business on the assessment plan. The statements are arranged chronologically by year and, then alphabetically by the name of the corporation.