B.—ll

1943 NEW ZEALAND

REPORT OF THE WAR DAMAGE COMMISSION ESTABLISHED UNDER THE WAR DAMAGE ACT, 1941, FOR THE YEAR ENDED 31st MARCH, 1943 Presented to both House's of the General Assembly pursuant to the Provisions o<f the War Damage Act, 1941 Wellington, 19th May, 1943. In accordance with the provisions of section 18 of the War Damage Act, 1941, the following report and statement of accounts is presented respecting the operations of the War Damage Commission for the year ended 31st March, 1943:— (1) Owing to military duties, Mr. G. E. Brangwin resigned his appointment as a member of the Commission on the 23rd April, 1942. Mr. W. B. McKenzie, General Manager for New Zealand of the United Insurance Co., Ltd., was appointed in 'his place. Otherwise the personnel of the Commission remained unchanged. During the year eighteen meetings of the Commission were held. (2) An amendment to the War Damage Act, 1941, enlarging the definition of war damage to include— Damage occurring (whether accidentally or not) as the direct result of measures taken under proper authority with a view to destroying any property for the purpose of preventing it from falling into the hands of the enemy or being used by the enemy was passed by Parliament on the 11th May, 1942. Also an amendment to the War Damage Regulations was gazetted on the 24th February, 1943. This changed (a) the method of rating sums of less than £100 to a pro rata basis, and (b) the definition of a "month" to accord with ordinary fire-insurance practice. Each alteration effected some reduction in premiums payable. (3) The premium income for the year amounted to £1,611,218 3s. 7d. Interest earned was £16,622 lis., and, after lull provision had been made for claims and expenses a net balance of £1,620,149 19s. sd. was credited to the War Damage Fund, the total of which on 31st March, 1943, including the balance brought forward from the previous period amounted to £2,495,240 os. Id. ' (4) Administration expenses of the Commission for the year were £6,735 3s = 0-418 per cent., or less than one-half of 1 per cent., of the net premium income. This exceptionally low working-cost has been made possible by the gratuitous services of insurance organizations. Members of the Commission also gave their services without remuneration. . J s } claims for war damage were lodged, and settlements effected for a total of £955 12s. 2d. (6) The aggregate amount insured under the Act, which now covers all property in the Dominion which is insured against fire, as well as other property insured voluntarily is not less than £600,000,000. The Commission desires to point out that the liabilities of the h und in several comparatively small areas which might be seriously affected in the event of an enemy attack or by an explosion of war munitions could exceed by several