INSURANCES TC THE STATE

Press, Volume LXXIII, Issue 22197, 14 September 1937, Page 8

INSURANCES TC THE STATE

Decision of Auckland Transport Board TWO MEMBERS OBJECT [THE PRESS Special Service] AUCKLAND, September 13. cornet transfer *U its «rean "ST A y c Anultail it seemed to him tobe a eapricious acton to re th g e,S! a, aT|e^a o /« vh - State taking over so much ot a had been before private emeiy He'objlcted to the ing business to.the State sunp y cause it was the *>tate *£>. v ♦ho hoard's insurance business w<» ways stipulated that tne u S P Tro S m°S d e i^^SgJ Sion some of the remsurances would go to overseas firms. Weare making a change from a business that has served us well and faith fully over a long period, said Mr Allum, "and we are getting no peSSy benefit at all. Idc the move is necessary, and I do not think that we should transfer the business to the State merely because A 3 Anderson supported Mr Allum's objection. He said he could not see anything m the report board in committee to justify such a peremptory change There should certainly be a stipulation that reinsurances should not be placed overSe The Hpn F. E. Lark said when the State Fire Office had been established it had been responsible for the reduction of 33 1-3 per cent, m the costs of insuring, and State insurance had resulted in a saving of £10,000,000 to the people, aswelUs an additional saving of £3,500,0UU through its rebate system. The State Office was the people's own institution, and the greater support given to it the greater would be the benefits to the people. The chairman, the Hon. H. u. ii. Mason, said if it was merely a question of State enterprise against private enterprise, the sphere of insurance was an unfortunate one in which to raise the question. He believed, however, that local offices would still get almost as much if not wholly as much benefit from the transfer through reinsurances as they had got in the past. Messrs Allum and Anderson voted against the adoption of the recommendation.