Fire loss claims rising
PA Wellington Average insurance losses for fires rose 32 per cent in the 12 months to the end of March, 1983, according to the “Insurance Bulletin.” There was a 16 per cent increase in the amount of money paid out in fire and “allied perils” claims. The figure paid was $156,231,000 compared with $134,817,000 in 1981-82. The bulletin said there had been a slight reduction in the number of claims settled. “The rising trend of the average fire claim must be viewed with some concern,” said the bulletin, which is published by the Insurance Council of New Zealand. Arson and malicious firesetting was one of the reasons behind the loss growth. Other reasons were rising values and costs, lack of fire security in commercial premises, and an increasing incidence of burglary and theft claims which came within the “allied perils" category.
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Press, 25 May 1984, Page 4
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145Fire loss claims rising Press, 25 May 1984, Page 4
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