Government Fire Insurance.

Manawatu Herald, 14 December 1897, Page 3

Government Fire Insurance.

The Government Fire In sura net Bill has been brought down by Governor's message. Part I. pro videa that the Government may raise £250,000 through agents, or the Governor may delegate his powers to the Agent General. Supplementary capital may bo raised in certain circumstances. Surplus profits are to be used for a reserve fund and the payment of bonuses. Part II relates to the statutory insurance of buildings shall apply only in districts wherein this part of the

Act has been adopted, pursuant

either to a special order made by the. -^^uDcil of the district or to a poll of the ratepayers thereof. If the special order is not superseded then this part of the act shall ba deemed to be adopted in the district at theexpiration of one month after the date on which the special order is duly made, "If the proposal to adop

the act is carded at. the poll, then a fire insurance roll is to ba made up. Clause £0 afcate3 that upon the coming into the force of the toll, every building shown on such roll as not "insured elsewhere than under this act shall bo deemed to be insured in the Government Fire Insurance Office in the name of the owner in a sum equal to the actual insurable value thereof, at the rate and amount of premium appearing on the roll. Buildings already insured come under the act at the ex« piration of the current policy. The Government may discontinue statutory insurance in any district, Part HI. relates to the equipment ana maintenance of fire brigadies. The funds are to be obtained at first from the couuty or borough fund. Contributions are afterwards to be" obtained from insurance companies in proportion to their business. The Governor is empowered to make regulations on a large number of subjects.