ACCIDENT INSURANCE.

Press, Volume LX, Issue 11616, 22 June 1903, Page 5

ACCIDENT INSURANCE.

TO THE EDITOR OF THE "'BESS.

Sir,—-I itai glad to tea that at last the-, employers of labour are beginning to take a littlo interest in lh_ matter of accident insurance, instead of, as in the past, contenting themselves with a general growl when the premiums had to bo paid. I notice in you* report of late meeting of tho Employers' Association, held on Thuisday lost, some remarks re this subject. It was t-tated tliat under the old Act a worker had no claim on his employer till two weeks after the accident, but since April Ist the period was reduced to one week; and that non-unionists were asking for compensation from date of accident. These statements are not quito correct. Under tlie Amendment Act (April Ist) payment is made from date of accident, of half wages, if worker is laid up for one wrc-k; if not so laid up no claim results. Wuat- the unions now want, I understand, is payment of full wages for first month, from el'Me r.f accident, and then half wages to recovery; also doctor's first attend-incy and chenust's cnarges., Nor, sir, our bus in ess is to ge-fc workera healed as soon as possible, but is it reasonable to expect that a worker will hasten his recovery when he -gots full wages for a month? If this becomes law it i-i apportirt premiums must go up a, very great amount. The accident insurance companies do not want large*- premiums, but if large risk-" aro protected, then we must get adequate premitima It was stated that the Government office had joined n, ring to force up premiums As against tin* I to state the following fact.*. La-vi year £SO,GCO was paid in compensation for accidents up to January Ist. and £30,000 was outstanding for claims aUrhat date: in premiums only" £70,0u0 waa collected for the year. Similar results obtained at Home, as there was no previous «. - xporience to cuide the companies. We have since Ap/il Ist the increased claims from date- of accident which we escaped last ye.tr. It is therefore-, ob-rious that rates had to go up as from our experieiKO we estimate that there will be an increase of 60 to 70 per cent, in claims under the Amendment Act. It tra- stated that the increase to an ironmaster paying £10,000 m wages would mean a premium of £130 for accident m-.-urance. How many hundred men wotf.d •this £150 premium cover? For each man we take following risks: —Half-wages from dire of accident"while laid up: a chanca of having to pay up to £500 if unable to •*nrn T-reviow wnaes on ncovery, nu<L>a i>--rrr-cnt at de-ath cf -C""00 m'nitr.um. and '-VCO maximum, .if *•*•• •-:* "•"■T <H V *"; '■-nts: if none, then up to £>f> for bur;al •wpe-nses. I think bnsinfM men must- adm-it that there is- little wonder in tbe Government Department raising Uw rates, and that we "i---- fully justified in following them, tn face of hu*t year's losses.—Yours, etc.. EDWARD RICHARDSON. Jun.., District Manager Ocean Accident Co.