STATE ACCIDENT INSURANCE DEPARTMENT.

Dominion, Volume 3, Issue 857, 1 July 1910, Page 8

STATE ACCIDENT INSURANCE DEPARTMENT.

• 6 t T JI e re l ellll6 account and balance-sheet or the Government Insurance Department s accident branch for the year ended December 31 .last was laid before .Parliament yesterday. Tho revenue account shows receipts totalling .£38,113, made up of premiums .£26,337, amount of accident funds on January 1, 1909, <£9598, jqioJW £2178. The expenditure waa the principal items hems Claims, «£12,505; further transfer to reserve fund, <£9593; sai-aries, £3108; commission, «£12981j further appropriation to reserve for unearned premiums, ,£2264. ihe amount of accident funds on December 31 was thoreiore <£0264. Tlie balancesheet of the branch gives tho liabilities as i£52,&10, made up as follows:—Reserve fund constituted under Section 20 of the Act of 1908, .£21,785; claims admitted (proofs not yet completed), ,£11,500, reserve for unearned premiums, ; accidents funds, as per revenue account, .£6264; investment fluctuation reserve, c£IGOQ; commission, .£181; premium and other deposits, £57. On the asset side are:—Mortgages on property, <£17,710; overdue interest, £Zi; outstanding interest due, but not overdue, £18; interest accrued, but not due, ,£666; agents' balances, <£556; sundry accounts owing, .£1097; cash in band and on current account, <£2557.