The Feilding Star. THURSDAY, JUNE 26, 1884.

Feilding Star, Volume VI, Issue 7, 26 June 1884, Page 2

The Feilding Star. THURSDAY, JUNE 26, 1884.

Most insurers will remember, about two years ago an agitation which was commenced in Feilding with a view . to obtaining a reduction in the present extravagant rates charged by the various Insurance- Companies doing business in the M&nawatu. A movement of a similar character was made ill Wellington a few weeks ago, and such .powerful combined influence was brought to bear that a reduction of ten' per cent, was promptly offered by the associated Insurance Companies' representatives. This concession has not, -so far as we are aware, been accepted. In the case of the Manawafoi^gjtiation,' after .the- signatures had been obtained of all the principal insurers, and some correspondence had^ been carried on^tlie Lnature and contents oi vwhich; vq,s'/never made known to. the various parties con^ cernea I—-the1 —- the matter was allowed to drop, and the same outrageously high rates continue to be charged. The public here are not alive to the fact that witb insurance business there is not that healthy competition which is so beneficial to trade. Mbst agents •will accept risks'at the high rates for the 1 sake of the premium, whereas by accepting good risks at a smaller premium, a much safer, and in the end more profitable, business is done. But agenta are bound down by a : hard and fast agreement— the breaking of which carries, heavy money penalties — to keep up the rates of insurance so that they cannot compete with each other and so bring down the rates to a reasonable maximum. We trust the gentlemen who interested themselves in this matter before will take it in hand again with the hope of more gratifying results.