FIRE INSURANCE.
STATE OFFICES AND PRIVATE .COMPANIES. (By Telegraph—Press Association.) Christchurch, June 26. Replying to a resolution of tho City Council regarding the State Firo Insurance Department's rates, the Hon. G. Fowjds has written that the State offico is in no sense under any obligation to follow tho ratings of the 'private companies. At the same time the State office must not be forced into adopting rates, \ylijch. would, place the offico in a position : of making , losses. . Continuing, lie says: — "Your council seems to have overlooked the fact that, consequent on tho coming into operation of tho State oiDce, rates on the majority of the fire business of the Dominion were reduced up to 33 1-3 per cent., which has resulted in a saving to tho people of exceedingly largo sums annually. The rates so reduced have, never been considered adequate by the State office, and very g'lod and substantial reasons must bo advanced for any further reductions even in special areas." One councillor said that if he had the time he could show that the Department had accepted the dictation of the private offices. The letter was received.
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https://paperspast.natlib.govt.nz/newspapers/DOM19110627.2.18
Bibliographic details
Dominion, Volume 4, Issue 1164, 27 June 1911, Page 4
Word Count
190FIRE INSURANCE. Dominion, Volume 4, Issue 1164, 27 June 1911, Page 4
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