Criticism of premiums
(N.Z. Press Association) WELLINGTON, Sept 7. CAR.P. has sent a message to the Minister of Industries and Commerce (Mr Shelton), accusing the insurance companies and the Council of Underwriters of price fixing by agreement against the public interest C.A.R.P. was alarmed to learn that fire insurance premiums were to rise by 12) per cent the president of the Wellington branch of CA.RJ>; (Mrs C. Kelly) said today.
Not Only would this affect msumers directly through
their own insurance, but firms would, without doubt, pass the extra charges on in price increases, she said. By a deciscn of the Council of Underwriters, the increase had been recommended to all its member companies. Most of the major private insurance companies were members of this council, Mrs Kelly said. “We have demanded that the Government take action under the terms of the Trade Practices Act, and that no increases be allowed until the agreement has been thoroughly and publicly investigated,” she said.
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Bibliographic details
Press, Volume CXI, Issue 32706, 8 September 1971, Page 16
Word Count
162Criticism of premiums Press, Volume CXI, Issue 32706, 8 September 1971, Page 16
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