Page 8 Advertisements Column 3

Bay of Plenty Beacon, Volume 2, Issue 190, 24 July 1940, Page 8

PUBLIC NOTICE THE GOVERNMENT STATE FIRE INSURANCE OFFICE DISTRIBUTION OF PROFITS FOR _ YEAR 1939-1940. TO POLICYHOLDERS. You will be pleased to know that the Bonus ' System instituted in 1936 will be . continued this year, and policyholders who have been insured w*ith the Office for not less than one year ■will be credited.-with the Bonus Rebate on renewal of existing insurances. Under this Distribution of Profits i policyholders will benefit according, to the length of time they have : been insured with the Office up to - ■ a maximum of three years. The amount of profit credited to each policy, which will be shown on the * expiry notice, further reduces the ' 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 pre--5 miums. The establishment of the i Office in 1905 brought about a perf manent reduction in Dwelling ratesi of 33 1-3 per Cent, and in Trade 1 [ Risks of 10 per cent. In 1923 the- . > Office declared its first Bonus Re- : 1 bate of 15 per cent. The Bonus Rc-< - 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 case ' of Dwellings and Farm Buildings ' up to 25 per cent. On the Ist Deo f ember, 1936, the latest Bonus Re—- ' bate was converted into a permanent rate reduction, and in addition a Distribution .of Profits was made. The effect of the above reductionI*,1 *, since the establishment of the STATE FIRE OFFICE in 1905 hasbeen to reduce premiums, in the case of Dwellings and Farm Build- • ings by from 57.33 per cent to 62.i» per cent, and in the case of Trader Risks by from 28 per cent to 37 per. - cent. The State Fire Office in applying surplus profits towards the reduction of premiums to its policyholders affords all the advantages. , of Mutual insurance without that contingent liability on policyholders which is an inherent risk at- : tached to Mutual insurance outside I the State Fire Office. 1 A CONTINUANCE OF YOUR SUPPORT WILL ASSIST .THE* STATE FIRE OFFICE TO MAIN--5 TAIN AND EXTEND ITS "MUT- " UAL" SERVICE TO POLICYHOLD- • ERS. . ' - ... IF YOU DESIRE TO INSURE . YOUR .DWELLING, FURNITURE" ' AND PERSONAL EFFECTS, EM- ! PLOYEES, MOTOR CARS ANI> ; TRUCKS, CONSULT OUR AGENT,. A J CANNING and Co. 1 Auctioneers and Estate Agents? Agent for State Fire and Accident Insurance, Government Life Insur» nnce, State Advances Corporation j. Northern Building Society t Farm Equipment Coy. WHAKATANE t ==i I T.BELL i BUILDER & CONTRACTOR | EDGECUMBF. ' . " 1 . I , Builders hardware always on " . stock. Plans and specifications [ prepared. . Estimates Free. Phone 141 X WISH WINN • Gent's Outfitter and Mercer ' Whakatane Hotel Buildings Representative stocks of:— Sincerity Suits * t Summit Shirts Parisian Ties Domo B(klts 1 and Braces ! 5 and ALL Working Men's lines 1: • ! ? ''THE LITTLE SHOP WITH • THE BIG VALUES" \