LIFE INSURANCE BILL
Amendment Discussed
(New Zealand Press Association) WELLINGTON, August 13.
The Government Life Insurance Office should have the same authority to make ex gratia payments and premium refunds to policy-holders as private insurance companies had. Mr J. R. Marshall (Opposition. Karori) said in the House of Representatives today. Mr Marshall was speaking in the second-reading debate on the Government Life Insurance Amendment Bill. The bill was read a second time. Mr Marshall said he knew a case where a Government Life policy-holder had no legal claim but a very good case for an ex gratia payment. But the policyholder was told the Government Life Insurance Commissioner had no authority to make such a payment.
"Private companies frequently make ex gratia payments to policy-holders where they have a good case, although no legal claim. This is done because private companies value customers’ goodwill.” said Mr Marshall. The Minister in charge of the Government Life Insurance Office (Mr Anderton) said that the bill gave the office more scope and greater flexibility to meet increased competition from private insurance companies and to ensure policy-holders a fair return for their money.
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Bibliographic details
Press, Volume XCVIII, Issue 28973, 14 August 1959, Page 12
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189LIFE INSURANCE BILL Press, Volume XCVIII, Issue 28973, 14 August 1959, Page 12
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