Claims cost $29.6M
PA Wellington Motor-vehicle insurance claims cost the State Insurance Company $29.6M last year, according to the office’s annual report, tabled in Parliament yesterday. "The economic loss to the country represented by the payout by this office “alone is a matter of serious concern, and the drain On overseas funds represented by the cost of replacement parts is substantial,” says the general manager (Mr N. R. Ainsworth) in the report Claims costs continued to rise during the year and it had been necessary to adjust premiums from July 1, although they were kept to an absolute minimum, he said.
The report shows net premium income increased bv $11,091,506 to $65,783,278 and underwriting profit bv $6,880,110 to $8,308,082.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19780616.2.35
Bibliographic details
Press, 16 June 1978, Page 3
Word Count
119Claims cost $29.6M Press, 16 June 1978, Page 3
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in