HANDICAPPING THE COUNTRY
There appears to be a somewhat peculiar arrangement amongst the fire insurance companies, with regard to accepting risks in the country—at least it is so with the South British. Some few days ago Dr Rockstow wrote down to a friend in Wellington to insure his house for him in the South British for £SOO. Not hearing in reply, and being anxious to have the matter completed, he went to the local agent of the company, and did so, paying 15s per £IOO. Next day he received his friend’s letter informing him he had carried out his instructions and had insured in the South British for 7s fid per £IOO. The doctor then made application to be released of the policy upon winch which he had paid the larger sum, but to this this the company declined to accede, but cancelled that' effected in Wellington at the smaller rate. The arrangement is an extraordinary one, and by no means fair to country agents, for it is not at all likely that if risks can be taken in Wellington on country property at 7s fid insurers will not care to patronise local agents and pay 15s. The only explanation vouchsafed to Dr Rockstow was that 15s was the price ruling in Wanganui, and the company could not break through the rule.—Manawatu Times.
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Patea Mail, 25 January 1881, Page 3
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223HANDICAPPING THE COUNTRY Patea Mail, 25 January 1881, Page 3
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