INSURANCE RISKS. TO THE EDITOR.

Bay of Plenty Times, Volume XV, Issue 2225, 23 December 1887, Page 3

INSURANCE RISKS. TO THE EDITOR.

Sir, — I see the Wellington citizens have requested the Underwriters' Association to reduce the rate of fire in* surance premiums. Let fire in* surance Companies reduce their risks to say, one half or even two thirds of the real value of th» property insured, and we would soon have less fires and lo*ver premiums.* Fire insurance companies (as their business is at present conducted) are the curse of this country. How many properties are insured in twice and even thrice their value? Hence fires, accompanied by the wholesale destruction of property. The one enriched — the many ruined — the country so much the poorer by i!ie value of the property consumed. Our Legislators can talk about and legislatefor codlin moth, and other' small pests, but the peat of over insurance (which is annually destroying more property and bringing more honest people to beggary than the codlin moth would in half a century,) is quietly allowed to pursue its ravages on society, converting annually hundreds of thousands of pounds of property into smoke. — I am, &c. Fair Play