FIRE RISKS
OYER-IXSUItANCE PUOHLK-M. WELLINGTON, Aug. 1<!. A movement to deal with the question of over-insurance for fire has commenced in Wellington, and it is probable that before long a deputation will wait upon the Minister concerned to ask for amending legislation to the Act under which the companies operate. It is complained that the companies are never loth to accept premiums, even for high amounts, without ail attempt to satisfy themseiVcs that the property insured is worth the amount for which it is covered, and that they do this without the slightest intention of meeting the full cover in case of fire.
Following a fire in Hamilton a few days ago, a Magistrate made some comments upon the easy manner in which it was apparent a man might over-insure his property, and to this statement Mr H. Didsbury, manager of the New Zealand Insurance Company, has replied that the owner ot any property must be the best-inform-ed person as to its value. It is pointed out that if this is so before a fire it is equally so after a fire, and that If Mr Didshury’s statement lie accepted, the work of insurance adjustors employed hv the companies is superfluous and their conclusions of small value.
The object of the Wellington movement is to ensure that nil companies siinil perform the reasonable duty of cheeking new insurances, and accepting none for a greater amount than they are prepared to pay. Since depreciation is always claimed by the companies, when meeting liabilities, it will he suggested that each company shall undertake a yearly revaluation of the property on its hooks, and adjust its premiums accordingly. At present, those interesting themselves in the, mutter consider that the companies are trading on the general ignorance of their methods and accepting money to which they are not entitled.
He could turn a double handspring He could tie himself in knots; From a hat he’d juggle rabbits Beat a knngeroo at hops. He could make a lady disappear This famed entrepreneur And do magic, if lie had a cold With Woods’ Great Peppermint Cure,
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Hokitika Guardian, 25 August 1927, Page 2
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350FIRE RISKS Hokitika Guardian, 25 August 1927, Page 2
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