INSURANCE DECLINED
EARTHQUAKE & WAR DAMAGE A decision to decline the insurance offer of the Earthquake, and War Damage Commission was made by the YVhakatane Harbour Board at its last" meeting. The Commission stated that it was prepared to insure channel groynes and wharves for physical damage
only at the. rate of 3/- per cent. If the Board insured for £GO j OOO > and the total value of the property at the time of loss did not exceed this sura, the average clause would not operate.. The Commission was not quoting .separate rates for earthquake insur. ance and for Avar damage insurance. The Secretary reported that the premium quoted would not cover the Board for loss of vise of pro-
perty slwuld an earthquake either; raise or lower the level of v the cham nel or the adjacent land. The Board decided as above.
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Bay of Plenty Beacon, Volume 9, Issue 15, 16 October 1945, Page 3
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143INSURANCE DECLINED Bay of Plenty Beacon, Volume 9, Issue 15, 16 October 1945, Page 3
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