ORIGINAL CORRESPONDENCE.

New Zealander, Volume 9, Issue 802, 21 December 1853, Page 3

ORIGINAL CORRESPONDENCE.

FIRE INSURANCE OFFICE.

To the Kditor of the New-Zealander. Mr. Editor, —Tlieimportance of Fire Insurance is now fairiv brought before our emnmuuity, by the late iinforliinate destruction of Mr. Nieiiolson’s property, and w> oi l it not be well to lake a timely hint from this c ; and set our minds to the very important ..s itter of the Insurance of Property, and (Ims reap some good out of a great evil. Thus it is that a tire in London is always ’•onsideml the best thing for the Insurance Offices generally, as it brings in, during the next few weeks some hundreds or thousands of new Policies. A Fire insurance might bo rendered a very simple matter amongst us in our small community, either as a “mutually heneiici.il office,” or ns a Company. Surely a capital of 5000/. in 1000 share of if each could readily be raised, and that sum would be quite sufficient for all practical purposes of House Insurance, at, all events fur a good start, and if circumstances showed the desirability of a larger sum, (here would then be no difficulty in obtaining it. I know the risk in wooden houses would be great, but we must take our data, as to the rates required to make it pay; from the practical results of the last few years, and what has been the destruction of property in Auckland during the last five years? Those of more experience than myself could readily answer this question, and I should think there arc few persons in business here who would hesitate to pay their two or three per cent, for the insurance of their property. I think we might, at all events, calculate that 200 or 300 policies of 200'. to 30!)/. each might readily bo opened; and even this wouhl pay well, for the expenses upon such an office, in our cireum-

scribe ! locality, need not be large. Where there is no possibility of insurance we are naturally called upon, and to a certain extent hound, as far as our ability severally goes, to assist in relieving the sufferers by such a calamity as the late one; but where there is a possibility of insurance against the ruination caused by such destruction, such obligation would cease, as every party, by a little forethought and a small annual expenditure, would have it in their own power to avert the evil, and would stand without, excuse if they did not avail of if. Of course the offices would be provided with lire engines, escape ladders, and all (he necessary apparatus for the protection of property in case of lire. Life Insurance, perhaps hardly second in importance, might naturally follow; and this we know, by the experience of nearly every London office, to be a very profitable, as well as a very useful business. The very small gatherings from the many to pay for the losses of the few, is always a safe principle to go upon. Having thrown out these few hints, which may perhaps be taken up by wiser heads than my own, 1 shall leave the matter in your hands, and shall at all times he most happy to give my humble assistance in co-operating for the formation of so desirable an establishment. I beg to remain, Sir, yours, &c., Joseph Crtspe.