WAR RISK INSURANCE
SOCIETY'S £7500 PREMIUM (P.A.) INVERCARGILL, Monday. An Invercargill mortgagee will pay whati is perhaps the largest war insurance premium in New Zealand. It is the Southland Building Society, which is giving notice to the Underwriters' Association to cover for war risk all property over which it holds security. Its mortgages total about £3,500,000, including £500,000 lent in Wellington city. It is probable that the total value of insurable property exceeds £3,000,000, on which the premium will amount to £7500 a year. The society is arranging to pay the first premiums and collect a half-share from the mortgagors at a later date. Insurance offices in Invercargill spent a busy day to-day when the first war risk business was transacted. The larger offices were confronted with a rusn of business not Contemplated when the offices closed on Friday.
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Auckland Star, Volume LXXII, Issue 303, 23 December 1941, Page 3
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139WAR RISK INSURANCE Auckland Star, Volume LXXII, Issue 303, 23 December 1941, Page 3
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