INTERESTING FACTS

Evening Post, Volume CXII, Issue 14, 16 July 1931, Page 6

INTERESTING FACTS

RACING ACCIDENT FUND

fcioine interesting information about the New Zealand Racing Conference's General Trust Fund, commonly referred, to as the accident fund, was given by Mr. O. S. Watkins in his presidential address to the annual meeting of jockey club representatives this morning. Mr. Watkins is one of tho three general trustees of the fund.

In the first place, lie fcaid, due credit had to bu given to those representatives to. the conference who in 1903 ■ were responsible for the inauguration of the fund, and to members of tho sub-committee, consisting of Sir George Clifford, Bart., Sir George M'Lean, the Hon. J. D. Ormond, Mcssib. J. \V. Abbott), J. 11. Nixon, and G. G. Stead, who, under the advice of the Right Hou. Sir Francis Bell> drafted the rules and regulations establishing- the fund that the" conference adopted, ilorse-owncrs, trainers, jpekeys, and fctablcmen had derived great .benefits from the wisdom and forethought of these gentlemen. The General Trust Fund was the forerunner oE similar funds that had aince been established by tho Turf authorities in other countries.

During tho twenty-eight years tho i'und had been in operation the accident claims paid amounted to £77,827 0s lOd, and the accident fees received to £60,089 9a 6d. Owners had paid £1 for each horse raced by them up to the year 1917, when the accident fee was reduced to 10s. In 1922 the claims paid totalled. £0279 15s lOd. lv 1923 tho fee -was again made. £1, and in 1926, when the claims paid totalled £6034 18s 4c'l. it was found necessary to incicasc it to 30s in ordor to stabilise the fund. Since ID2G the accident claims paid had averaged*, a yearly sum of '£4515 3s. This year claims paid amounted to £3434 3s 9d, and the estimated outstanding claims were £825 Is 3d.

Every owner who paid a fee of 30s a horse each season was relieved of: his liability under the Workers' Compensation Act for the payment of compensation arising out. of accidents "caused by such'horse, ou any other horse in training owned by him, to the trainer, jockey, or stableman attending tho horse. Li order to obtain similar coyer from an insurance company the owner would have to pay-premiums' on the following basis:—Trainers and stablehands, £i per: centum per,- annum (no riding in races); jockeys and apprentice jockeys race riding risk, £7 10s : per centum per annum.' Consequently a cover of £1000 on a trainer would cost £40, and similar cover on a jockey wouM-cos^ £70. Under tho r.ecident fund the owner obtained such cover for 30s—surely■ a>'reasonable'charge..-. ~ . . . .'.'.'.' '■•;■'