INSURANCE ON CARS

Press, Volume CI, Issue 29936, 25 September 1962, Page 12

INSURANCE ON CARS

Increase Not General (From Our Own Reporter) WELLINGTON, Sept 24 The rise in insurance premiums covering damage to motor-vehicles applies only to companies which are members of the Fire and Accident Underwriters’ Association It does not apply to offices which are outside this association. This was made clear tonight by Mr J. L. Wright, genera! manager of the State Fire and Accident Insurance Office He explained that the State office and the three motorists’ companies the N.1.M.U.. the 5.1.M.U., and the Manawatu Motorists’ office were outside the Underwriters’ Association. "We have no connexion with any changes in rates announced by t>he tariff companies, and, as far as I know. no changes are pending in our group,’’ he said tonight The president of the Fite and Accident Association (Mr C. M. Brown) said that he was not prepared to comment on the Press Association message about the increased premiums at this stage. He was not prepared to confirm or deny its accuracy.

"I read it in the paper on my way home to the Hu t Valley in the train,’’ he said “I shall have another look at it when I reach my office tomorrow.”

High officials of a number of tariff companies confirmed the accuracy of the figures given in the Press Association report, and said they had been agreed to by the member companies after a thorough review had been made of the incidence of accidents occurring to the various classes of insured vehicles. (Earlier report Page 19)