Page 8 Advertisements Column 3

Bay of Plenty Beacon, Volume 2, Issue 186, 15 July 1940, Page 8

PUBLIC NOTICE THE GOVERNMENT STATE FIRE INSURANCE OFFICE DISTRIBUTION OF PROFITS FOR. YEAR 1939-1940. TO POLICYHOLDERS. You will bepleased to know lliat the Bonus: System instituted in 1936 will be - continued this year, and policyholders who have been insured with theOffice for not less than one yearwill be credited with the Bonus Rebate on renewal of existing insurances. Under this Distribution of Profit? policyholders will benefit according, to the length of time they have been insured with the Office up to - a maximum of three years. The amount of profit credited to each policy, which will be shown on the.- v expiry notice, further reduces the - cost of your insurance. A Distribution of Profits on this liberal scale is confined to policyholders of the State Fire Office. Policyholders are reminded of the part played by the State Fire Office in reducing insurance premiums. The establishment of the Office in 1905 brought about a permanent reduction in Dwelling ratesof 33 1-3 per cent, and in Trade Risks of 10 per cent. In 1923 the Office declared its first Bonus Re^ bate of 15 per cent. The Bonus Re- 1 - bates for succeeding years were 1924-1925., 10 per cent; 1926-1933,.. per cent; 1934-36, 12% percent; with an increase in the case of Dwellings and Farm up to 25 per cent. On the Ist Deeember, 1936, the latest Bonus Rebate was converted into a permanent rate reduction, and in a Distribution of Profits was made. The effect of the above reductionssince the establishment of the STATE FIRE OFFICE in 1905 hasbeen to reduce premiums, in thecase of Dwellings and Farm Buildings by from 57.33 per cent to 62.5- « per cent, and in the case of TradeRisks by from 28 per cent to 37 per cent. , The State Fire Office in applying- surplus profits towards the reduction of premiums to its policyholders affords all the advantages--of Mutual insurance without that contingent liability 'on policyhold--ers which is an inherent risk attached to Mutual insurance oiitside the State Fire Office.. ; , _ A CONTINUANCE OF. YOUR SUPPORT WILL ASSIST THE: STATE FIRE OFFICE TO MAINTAIN AND EXTEND ITS "MUTUAL" SERVICE TO POLICYHOLDERS. IF YOU DESIRE TO INSURER YOUR DWELLING, FURNITURE AND PERSONAL EFFECTS, EMPLOYEES, MOTOR CARS ANI> TRUCKS, CONSULT OUR AGENT*. A J PANMM: and Co. Auctioneers and Estate Agents; Agent for State Fire and Accident Insurance, Government Life Insur* ance, State Advances Corporatioa Northern . Building Faria Equipment Coy. WHAKATANE ! BAY OF PLENTY EEAC<JjfcT t SUBSCRIPTION. RATEST 1 One Quarter ......... 5/Halfyear 10/One Year ............ 20/SPECIAL NOTE. i ■ , 1 Th 6 above scale is limited strictly " to.payments in advance. For all overuue payments extending, beyond the current "quarter a> booking fee of 1/- will be charged*. 1 Established' quarters end ; d March 31st June 30ih Sept 30th December 31st "