INSURANCE PREMIUMS.

Otago Witness, Issue 2813, 12 February 1908, Page 88

INSURANCE PREMIUMS.

INCREASE DISCLAIMED. AUCKLAND, February 4.

The local managers of insurance companies, when seen by a press representative tins morning, disclaimed any know- - iedgfs of a general increase in rates, and profess to bo at a loss to understand tha report emanating from Mastevton.

WELLINGTON, February 4.

No rise in fire insurance rates has yet been decided upon, though insurance managers state that the present rates ar© unremunjrativc. They say that^fae recent bu«h fires have caused the year to open inauspiciously for all officos, and as a consequence the utmost caution — more so than usual, in fact— is being exercised in taking risks of every description. The general manager of the State Fire Office (Mr Brindlev) has received no information from theGmernment of any rise of so far as his office is concerned.

The telegram published on the 4th from Masterton regarding a probable increase in fire insurance rates has given rise to considerable comment. Managers of insurance companies to whom one of our reporters spoke •during the day stated, however, that they had heard nothing of the report— Ao say nothing of a "decision." One gentleman, who would certainly have something" to say in any matter of the kind, was of opinion that it was merely a rumour. He added that a committee representing the insurance companies held a meeting in Wellington last week to prepare a business paper for the annual conference of representatives of insurance companies, to be held in Wellington in March next, but nothing could have been done At that meeting- beyond the object for which it was called. "It may be," he went on, "that because there was 6uoh a meeting, and as fires have been very prevalent and the povevnment is ooniing along wifch contributions for fire brigades, and so on, the Masterton paper has jumped to _ the conclusion that the rates are to be raised, especially, as it is generally recognised that all through they are far too low." Another manager of a company said that an increase in the rates would have to come or some companies must close their doors. At present, however, nothing hapl teen decided upon. Everything was in. the bud, as it were, but he had little doubt that more would yet be seen of it. _ In the uncertainty that prevails the public will wait with much interest the result of the March conference.

> Since -writing the above Beisenauer hau passed away.