INSURANCE RATES.

Gisborne Times, Volume XVII, Issue 1368, 1 February 1905, Page 2

INSURANCE RATES.

EFFECT OF STATE COMPETITION. I (Per Press Association.) I Wellington, last night. I Though members of the Insurance I Conference, which has been sitting in I Wellington lately, decline to give any I information as to tho proceedings, it is I known that a new tariff was adopted. It I will probably be found that this involves a I very substantial reduction in the rates. I This reduction will bring rates, except for j certain hazardous risks, to a level conI sidorably below those of the State Fire Insurance Department, Under the tariff which has now been abolished risks were I grouped under oertain letters. For ex. I ample, W included churches, offices and dwellings; X, manufactories; Y, retail shops; and Z, hotels, warehouses, etc. In each of these classes it is understood that [ a substantial reduction in rates is to be made. On tho other hand, whero it Is considered that a distinct fire hazard exists, as in closely built blocks in cities and country towns, tho Committee of the Underwriters’ Association will, from time to time, rate accordingly. It is thought that in respect of these risks there will be an increase upon the late tariff almost immediately.