INSURANCE OF EMPLOYEES

Press, Volume XCIX, Issue 29336, 15 October 1960, Page 4

INSURANCE OF EMPLOYEES

Wages Statements . To Be Checked

(New Zealand Press Association) WELLINGTON, October 14.

The Workers’ Compensation Board recently undertook to check statements of wages rendered to insurers with the employers’ payroll records, the chairman of the board (Mr H. L. Bockeit) said today. He said that ?S the premium rates in force in New Zealand were regulated by the Government on the advice of the board, and were merely held at a level sufficient to meet the claims and allow a small margin for administration and a modest amount of profit, any underpayment by one small section of the employers must- result in the other employers paying more than they should do In order to make up for that deficiency. The effect of the check, Mr Bockett said, would not be to swell the premium income of individual insurers, but would result merely in those employers giving a correct declaration paying less. Th€ board had no idea of the extent of this problem, and therefore had decided initially to limit its investigation to one year, during which time it would hope to gauge the true position and decide whether the experiment should become a permanent feature of the board’s activities.