FIRE INSURANCE RATES

Taranaki Daily News, Volume LIV, Issue 2, 27 June 1911, Page 5

FIRE INSURANCE RATES

AND THE STATE OFFICE. By Telegraph.—Press Association. Christchurch, Last Night. Replying to a resolution of the City Council regarding the State Fire Insurance Department's rates, the Hon. Fowlds has written that the State Offio* is in no sense under any obligation to follow the ratings of the private companies. At the same time the State Office must not be forced into adopting rates which would place the office in the postiou of making losses. Continuing, he says: "Your council seems to have overlooked the fact that consequent on the coming into operation of the State Office the rates on the majority of fire business of the Dominion were reduced up to 33 1-3 per cent., which has resulted in a saving to the people of exceedingly large sums annually. The rates so reduced have never been considered adequate by the State Office, and very good and substantial reasons must (lie advanced for any farther reductions even in special areas." One councillor said that if he had the time he could show that the Department had accepted the dictation of the private offices. The letter was received.