INSURANCE CLAIMS
STATE OFFICE RESERVES
EX GRATIA PAYMENTS
An important statement bearing on the policy to be adopted by the State Fire Office in respect to earthquake insurance claims was made to-day by the Prime Minister (the Eight Hon. G. W. Forbes). . The Prime Minister announced that, in view of the special it has been decided by the Government I that the State Fire Office will make ex gratia payments at the discretion of the General Manager to policy holders whose insured property has suffered by damage. Payments will not' in any cases exceed the amount of fire damage, and will not .extend in any circumstances to purely earthquake damage. This arrangement will apply only to fire damage which has already been sustained. The large amount involved in this proposal, said Mr. Forbes, will be wholly provided from the reserves of the office itself, without any call being made on the Consolidated Fund. He added that this amply justifies the wisdom of the available reserve, which has been built up over the past 26 years.' ■
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Bibliographic details
Evening Post, Volume CXI, Issue 32, 7 February 1931, Page 14
Word Count
175INSURANCE CLAIMS Evening Post, Volume CXI, Issue 32, 7 February 1931, Page 14
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