COVERAGE TO BE CANCELLED
WAR RISK ON MARINE POLICIES
NOTIFICATION BY INSURANCE COMPANIES
. . AUCKLAND, September 19. Many Auckland importing firms were notified to-day by insurance firms operating in New Zealand of their, intention to.cancel, within 48 hours, war risk coverage on marine policies, except in case of special endorsements relating to goods in. transit. Moreover, there has been a flood of advices froin overseas agents to :.the effect that sales are subjectto fluctuations of war insurance "oh; buyers' account.
' Such..advices come. from many countries,.' including such countries out of the European zone as India and : Canada. The position how is that, -instead of general coverages,: importers requiring insurance are. finding, it necessary, in most instances, to take out war risks, subject to the conditions in effect at the time of shipment. The special ,war risk rate quoted to-day* from Canada and other countries was £ 1 per cent, rise from the recent rate of 10s per cent.
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Press, Volume LXXIV, Issue 22511, 20 September 1938, Page 7
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156COVERAGE TO BE CANCELLED Press, Volume LXXIV, Issue 22511, 20 September 1938, Page 7
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