STATE FIRE INSURANCE.
A PROTEST,
(By Telegraph—Press Association.) Dunedin, last night. At a meeting of the Committee of the Chamber of Commerce it was resolved to strongly deprecate the proposal on the part of the Government to embark on the business of lire insurance, on tho grounds : (1; That it has been abundantly proved by past ventures that have failed that the colony does not furnish a field of sufficient breadth to enable such business to be carried on in it alone with the risk of serious loss; (2) that the ostensible grounds for it introducing fire insurance as a department of State has been that the existing rates of premiums are excessive and the companies are making undue profits, but no evidence in support of the statement has been forthcoming, whilst on the other hand numerous companies have found the New Zealand field so unprofitable that they have either withdrawn or gone into liquidation ; (3) that it is undesirable that the Government should enter into competition with existing trading concerns.
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Bibliographic details
Gisborne Times, Volume VIII, Issue 483, 24 July 1902, Page 2
Word Count
171STATE FIRE INSURANCE. Gisborne Times, Volume VIII, Issue 483, 24 July 1902, Page 2
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