WAR RISK INSURANCES.

King Country Chronicle, Volume VIII, Issue 730, 16 December 1914, Page 3

WAR RISK INSURANCES.

GOVERNMENT ARRANGEMENTS. Tha following lettar and circular hss been received by the secretary of (he Te Kuiti Chamber of Commerce from tha general manager of the State Fire Insurance Office: — "I desire to bring under your notice the enclosed circular outling the procedure necessary to secura the reduced war risk insurance in accordance'wiih arrangements made by the New Zealand Government with the Imperial War Risk Office in London. Although the scheme has been widely noticed in the press, it has not been taken advantage of to the extent expected, and there are good grounds for believing that higher rates are being paid by many persona not familiar with the scheme who are therefore imposing on themselves an unnecessary burden. I would be glad if you would circulate the information as widely as possible in your district and among the membera of your chamber. I may mention for your information that neither the New Zealand Government nor the State Fire Office is obtaining any remuneration whatever in connection with the scheme. The whole work is being done gratuitously for the benefit of shippers of produce. There is practically no limit to the amount that may be given in cover in any one bottom." (Circular.) "During recent debates in Parliament it has been explained that any exporter wishing to insure against the war risk must do so through an accredited agent in London. Consequently arrangement for insuring any line of produce had to be made by cable in plain language, which involved a considerable expenditure, and to the small man it probably meant the securing of an accredited agent in the first instance, and then soma costly inter-communication by cable. To minimise that cost has been the Government's intention, and after negotiations with the Imperial War Insurance . Office, through the High Commissioner in London, it has been enabled to extend the facilities for the insurance of produce from N?w Zealand to ports of the United Kingdom. The arrangement made 'is for the Government to eable the High Commissioner names of consigners, descriptions, and value of cargoes, amount of insurance required, name of steamer, and d2te of sailing. The High Commissioner will then pay premiums to the Imperial War Insurance Office, and secure policies, cabling to the Government when it is done. The general manager of the State Fire Insurance Office, Wellington, will receive particulars of cargoes under this scheme and collect premium's here from consignors plus the cost of the cables. The Imperial rate is now £2 2s. Cargoes will be accepted only in hulls already insured by the Imperial War Risk Insurance Office through tha several approved Shipowners' Associations in London, and the onus of ascertaining that hulls are so insured rests upon the consignors. When applying for war risks consignors must supply two copies of ordinary insurance policies. Similar arrangements have been made and subject to the same conditions to cover cargoes from New Zealand to eastern and western ports of the United Stateß of America and Canada. War risk insurance on gold from New Zealand to Australia will be taken by the New Zealand Government under the Wa* Risk Insurance Act recently passed, at the rate of 2s 6d per nent. This will also be arranged and cover granted by the general manager of the State Fire Insurance Office.