FLOODING IN OPOTIKI
Large Damage Claims (Parliamentary Reporter) WELLINGTON, July 1. The floods in Opotiki, Whakatane and Waimana in March are likely to result in a loss of £275,000 to the Earthquaxe and War Damage Commission.'
In addition, insurance companies are likely to have to meet large sums on houseowners and householders’ policies and extensive damage was also done to uninsured property.
The Earthquake and War Damage Account now stands at £33,295,187, and the Disaster (Storm and Flood Damage) Account at £641,917. Earthquake and war damage premiums in the 1963-64 year totalled £2,121,755. and storm and flood damage premiums £234,745. Interest earned by both funds was £1,285,907. Claims paid totalled £5092 for earthquake and £356,349 for storm and flood damage. The surplus for the year after meeting expenses was £3,209,042. The ratio of working expenses to premium income exclusive of the collection fee of 2i per cent was 0.591 per cent.
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Bibliographic details
Press, Volume CIII, Issue 30482, 2 July 1964, Page 3
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151FLOODING IN OPOTIKI Press, Volume CIII, Issue 30482, 2 July 1964, Page 3
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