INSURANCE

Gisborne Times, Volume X, Issue 1034, 29 October 1903, Page 1

INSURANCE

Per Press Association. New Plymouth, last night. At a largely attended meeting of tbo Tradesmen’s Association to night it was resolved that tho attention of the marine insurance companies be called to the anomaly iu the rates now charged, for while from London to New Plymouth, including transhipment at Wellington, tho rate was 7s 6d, that from Wtllington hero was 203, thus debarring merchants insuring from port to port; that the fire insuranco companies bo requested to alter tho salvage clause, to make the whole claim payabio in respect of goods removed by agents’ orders from a building where a fire occurs and such goods become damaged by wator, removal, or theft, aod not inprop'ortion to the amount insured, as at present; that tho time has arrived when tho rates for New Plymouth insurances should bo reduced at least 25 per cent, lately increased over that amount, especially by charging risks from 0 to D, for the following reasons: Insurers employ nightwatchmen in tho town, the presence of an up-to-date fire brigade to which insurers contribute, good water supply, and shortly tho borough will enter into a schome for giviDg 1501hs pressure. Tho losses by fire here for ten years or more has been ridiculous compared with the premiums paid.