INSURANCE DISASTER
ENGLISH FIRMS HEAVILY HIT (Australian and N.Z. Press Association) LONDON, Wednesday. The fire on the new liner Europa at Hamburg is likely to prove the worst disaster the marine insurance market has known for years. Although the insurance originally was placed in Germany the risk was so extensively reinsured in London that it is probable the greater portion will be found to be held here. Policies are believed to have been taken out on an insured value of £3,000,000 for a period of 21 months. Firemen’ finally brought the outbreak under control. Engineers report that the stern, the lower deck and the engine room are not serioously damaged and can be saved. It is supposed that a lighted cigarette butt was dropped into some painters’ inflammable material and caused the fire.
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Sun (Auckland), Volume III, Issue 624, 28 March 1929, Page 11
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133INSURANCE DISASTER Sun (Auckland), Volume III, Issue 624, 28 March 1929, Page 11
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