STATE FIRE OFFICE

Dominion, Volume 12, Issue 296, 10 September 1919, Page 9

STATE FIRE OFFICE

PAYMENT OP. BONUSES NOT LOST SIGHT'OF. The Hon. G. J. Garland asked in th« Legislative Council yesterday: "Whether in view of tho large accumulated profits shown in the last balance-sheet*of the State Fire Office, the Government does not considor that the time has come when a bonus should be paid to the insurers, as provided by the Siato Fire Insurance Act. 1912? ' The Leader of the Council (the Hon. Sir Francis Beill) replied: "Whilst the total accumulated..funds for Id years amounted to .£314,000, it must be remembered that tho total unwritten liability for 1918 amounted to .£24000,000. Unless it is proposed that the liability to meet conflagration loss is to be thrown 'upon the Consolidated Fund, which, is not tho policy of the offico, accumulated fiinds are wholly required as a'necessary ienevve against underwrittenjliabilities. The ouestion of bonuses has not been lost eight of. A sum of ,£BOOO is already set a-sido, and will be increased and distributed as Boon as funds and a staff aro available. The sum now availabf.o is too email to bo applicaMo when spread over the total volume of income, and tho expenses of assessment and distribution too great to justify action, even if; a staff were available. Tho profits made during tho Inst two or.three years cannot be regarded as stable. War conditions have considerably increased tho profits of the office, allthoiigh no increase has been mado in rates."