Article image
Article image
Article image
Article image
Article image
This article displays in one automatically-generated column. View the full page to see article in its original form.


TOTAL NOW £4,381,213 SMALL. AMOUNT OF CLAIMS Parliamentary Reporter. WELLINGTON, this day. The Earthquake and War Damage Fund has accumulated assets totalling £4,387,881, according to the annual report of the commission presented to the House of Representatives yesterday. The surplus for the year was £408,734 and the total of the fund at the end of the year was £4.381,213.

When the premium was 5/ per cent the income reached its peak point of £1,611,218, but last year, when the new arrangement operated under which the war and earthquake risk was covered at 1/ per cent on the amount for which properties are insured, the total premiums were £320,274. Heavy accumulations of premiums enabled interest totalling £99,516 to be earned..

During the whole history of the fund claims have amounted to only £1093, including last year's payments of £82, when, according to the report, two claims for earthquake damages were investigated and admitted.. The commission has spent a considerable amount of time in dealing with applications for insurance under the voluntary provisions of the Act. Many relate to types of property not insured against fire, but are liable to earthquake damage risks. Of this class those which are considered acceptable are being charged differential rates of premium.

A survey of buildings for the purpose of framing suitable insurance standards when sufficient data has been collected is proceeding slowly, states the commission. More rapid progress is not possible until additional staff is available to undertake this expert work. The payment of discount at the rate of 2-i per cent for the of premiums, applied throughout the year, the total discount paid to insurance offices being £7891. Prior to March .1, 1944, this work was undertaken entirely gratuitously. Reduced premiums have also "contributed to a rise in the percentage ratio of working expenses to income.

This article text was automatically generated and may include errors. View the full page to see article in its original form.
Permanent link to this item

Bibliographic details

EARTHQUAKE FUND, Auckland Star, Volume LXXVI, Issue 176, 27 July 1945

Word Count

EARTHQUAKE FUND Auckland Star, Volume LXXVI, Issue 176, 27 July 1945

  1. New formats

    Papers Past now contains more than just newspapers. Use these links to navigate to other kinds of materials.

  2. Hierarchy

    These links will always show you how deep you are in the collection. Click them to get a broader view of the items you're currently viewing.

  3. Search

    Enter names, places, or other keywords that you're curious about here. We'll look for them in the fulltext of millions of articles.

  4. Search

    Browsed to an interesting page? Click here to search within the item you're currently viewing, or start a new search.

  5. Search facets

    Use these buttons to limit your searches to particular dates, titles, and more.

  6. View selection

    Switch between images of the original document and text transcriptions and outlines you can cut and paste.

  7. Tools

    Print, save, zoom in and more.

  8. Explore

    If you'd rather just browse through documents, click here to find titles and issues from particular dates and geographic regions.

  9. Need more help?

    The "Help" link will show you different tips for each page on the site, so click here often as you explore the site.