FIRE INSURANCE RATES.
TO BE RAISED AFTER AUGUST. (Per Press Association. > AUCKLAND, July. 3. ■lnquiries made in insurance circles regarding the decision of the insurance companies to raise- the votes for fire insurance elicited the information that the .higher premiums will be charged on and after August -Ist next. It was stated that the net trading loss to the combined companies for 1908 was £159,354, and for the last five years £254,956.' “These figures are lamentable,’ said one insurance authority, “The losses- have occurred, and are still occurring, and companies cannot be expected to provide a surplus out of .which they shall all be paid. It is a great pity, but none the less true, that the fire waste in the Dominion is excessive. This should not be the case in a young and prosperous country like this,- but there is no disputing the facts.. Until some satisfactory solution is arrived at, or until there is a reduction in losses, the rates will have to remain on an increased basis.” . Leading underwriters stated that even at the (proposed increase of rates fire' insurance will be barely payable. What the actual increase is to be has not been disclosed.
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Bibliographic details
Gisborne Times, Volume XXVII, Issue 2545, 5 July 1909, Page 5
Word Count
198FIRE INSURANCE RATES. Gisborne Times, Volume XXVII, Issue 2545, 5 July 1909, Page 5
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