The liquidation of its insurance department, a question troubling many of the existing Jewish fraternal organizations which were established in the early period of Jewish immigration to the United States, was announced by Alex Katsky, Grand Master of the Order B’rith Abraham. The liquidation was effected by the transference of the insurance liabilities and assets of the Order to the Metropolitan Life Insurance Company.
This transaction involved 13,000 members who carry insurance totalling more than $6,000,000. The transfer was effected by Julius Weiss, an insurance agent who is a member of the Order The arrangement takes effect at midnight, August 31.
It was said that this transaction is the largest single volume of business ever obtained by the insurance company under one contract.
The tendency to abolish the insurance department in Jewish fraternal organizations has been progressing lately with the economic and social changes which have come about in American Jewish life since the bar to large immigration came into force. The Jewish fraternal organizations, originally conceived as mutual sick benefit and insurance associations for the early immigrants, are now concentrating on a social program of communal work.