Page 8 Advertisements Column 4

Bay of Plenty Beacon, Volume 7, Issue 60, 28 March 1944, Page 8

PUBLIC NOTICES • STATE FIRE INSURANCE OFFICE AGAIN REDUCES RATES OF INSURANCE TO THEIR POLICY HOLDERS REDUCTIONS ANNOUNCED A new schedule of rates has been? adopted by the State. JFire Insurance Office and will come into operationin respect to wooden dwellings on March 1. Because of the great amount of. work involved in. adjusts ing premiums and, the extreme shortage of staff, it will not be practicable, it is stated, to apply new ratesfor other risks until later. "The new rating schedule for wooden divcllings reduces the present three grouping classes to> two, and abandons all loadings for con— , tiguity which have applied in thepast," stated the Minister in charge - of the State Fire Office, the Hon. • D. Wilson. "In addition, the present maximum State Fire bonus re-v----bate granted to policy holders of three years' standing has been made a permanent rating reduction. Theeffect of the new schedules on rates., will vary and will be the greatest, in connection with wooden dwellings situated in groups. There will beno increases." As an indication of the effect of the new system of rating on a wooden dwelling :in Wellington, situated in a full group of other dwellings, the Minister said the new rate would be 4s 3d per cent, as against the present rate of 6s per cent charged to a State Fire poK icy holder of three years' standing. Where trade risks formed part of thegroup, reductions would be greater. It was not possibe at present to> estimate the average percentage reduction over all, but it would besubstantial. "In addition to reductions under the new rating schedule, the StateFire Oilice will as from March 1 give to,its policy holders on renew-* al a bonus rebate of It) per cent onall wooden risks ami 15 per cent on.; all brick risks; these rebates to apply universally, that, is, to both dwellings and all other classes of business," added the Minister. The State Insurance—Your own. office has reduced rates in Fire Accident and Motor Car Risks. Insure with the State and ivceivethe benefits of these reductions.

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