FIRE INSURANCE.
_ »_ COMPANIES AND LLOYD'S. (rRZ9S ASSOCIATION TZLEGttAU.) WELLINGTON, November 22. The Insurance Companies Deposits Act Amendment Bill was introduced into the House of Representatives tonight by Governor-General's Message and read a first time. The Hon. Mr Rolleston said the Bill was intended to put agents for underwriters on much the same footing in the matter of deposits as regular insurance companies. * Mr Atniore (Nelson) said the Bill was dangerous, and should not be allowed to proceed. It was aimed at Lloyd's, who were giving cover at much lower rates than the local companies. It was not business on the part of the Government to do that sort of thing. The Prime Minister said the Bill had no motive behind it but to put insurance competition amongst companies oa an even footing. _ 7£r Campbell (Hawke's Bay) said he regarded the Bill as an to drive Lloyd's out of business in New Zealand, or drive them into the local combine. The Minister for Justice asked members to suspend judgment until they had seen the Bill. The Bill was introduced and read a first time.
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Press, Volume LXIII, Issue 19165, 23 November 1927, Page 9
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183FIRE INSURANCE. Press, Volume LXIII, Issue 19165, 23 November 1927, Page 9
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