Page 8 Advertisements Column 3

Bay of Plenty Beacon, Volume 2, Issue 180, 1 July 1940, Page 8

r PUBLIC NOTICE THE GOVERNMENT STATE FIRE INSURANCE OFFICE DISTRIBUTION OP PROFITS FOR YEAR 1939-1940. ' TO POLICYHOLDERS. You will be pleased to Know lhat the BonusSystem instituted in 1936 will be : continued this year, and policyholders who have been insured with the • i Office for not less than one year ' will be credited with the Bonus Re- ; bate on renewal of existing insurances. Under this Distribution of Profits policyholders will benefit according" to the length of time they have been insured with the OfFice up toa maximum of three years, Theamount of profit creditedCto each policy, which will be sho>fZrbg ie tiie>expiry notice, further reduces cost of your insurance. A Distribution of Profits on this liberal scale is confined to policy--holders of the State Fire Office. Policyholders are. reminded of the part played by the State Fire Of— fice in reducing insurance premiums. The establishment of the Office in 1905 brought about a permanent reduction in Dwelling rates of 33 1-3 per cent, and in Trade Risks of 10 per cent'. In 1923 thesOffice declared its first Bonus Re-> bate of 15 per cent. The Bonus bates for succeeding years were 1924-.1925, 10 per cent; 1926-1933,. 12% per cent; 1934-36, 12% per cent; with an increase in the caseof Dwellings and Farm Buildings up to 25 per cent. On the Ist Deerember, 1936, the latest Bonus Rebate was converted into a pernran- ' ent rate reduction, and in additior* a Distribution of Profits was made. The effect of the above reductions--since the establishment of the STATE FIRE OFFICE in 1905 hasbeen to reduce premiums, in' the case of Dwellings and Farm Buildings by from 57.33 per cent to 62.5 per cent, and in-the case of TradeRisks by from 28 per cent to 37 per cent. The State Fire Office in apply-, ing surplus profits towards the reduction of premiums to its policyholders affords all the advantagesof Mutual insurance without that contingent liability on policyholders which is an inherent risk attached to Mutual insurance. outside the State Fire Office. A CONTINUANCE OF YOUR SUPPORT WILL ASSIST THE" STATE FIRE OFFICE TO MAINTAIN AND EXTEND ITS "MUTUAL" SERVICE TO POLICYHOLDERS. IF YOU DESIRE TO INSURE YOUR DWELLING, FURNITURE AND PERSONAL EFFECTS, EMPLOYEES, MOTOR CARS ANI> TRUCKS, CONSULT OUR AGENT,. A J pakxinu and Go. 1 Auctioneers and Estate Agents; Agent for Statq Fire and Accident) Insurance, Government Life lixsur*ance, State Advances Corporation^, Northern Building Society t Far in Equipment Coy. WHAKATANE