INSURANCE RATES.

Press, Volume LX, Issue 11725, 28 October 1903, Page 5

INSURANCE RATES.

(PRESS ASSOCIATION’ TELEGRAM.) NEW PLYMOUTH, October 27,

Alt. a largely attended meeting of the Tradesmen’s Association to-night, it was resolved to draw the attention of marine insurance companies to the anomaly in the rates now charged. From London to New Plymouth, including transhipment at Wellington, the rate is 7s 6d, but that from Wellington to here is 20s, thus debarring merchants insuring from port to port. The fire insurance companies will be requested to alter the salvage clause to make a whole claim payable in respect of goods removed by an agent’s orders from a building where a fire occurs, and such goods become damaged by water, removal, or theft, and not in proportion to the amount insured as at present. It was also resolved that the time has arrived when the rates for New Plymouth insurances should be reduced at leastj 25 per cent. The rates were lately increased over that amount, especially by changing jisks from €to D. The reduction is claimed for the following reasons: -*Tlie insurers employ a nightwatchman, there is an up-to-date fire brigade to wliich the insurers contribute, a good water supply, and losses by fire here for ten years or more have been ridiculously low compared with the premiums paid.