DOMINION’S FIRE WASTE

Dominion, Volume 22, Issue 52, 24 November 1928, Page 8

DOMINION’S FIRE WASTE

MATTER FOR SERIOUS CONSIDERATION Dominion Special Service. Dunedin, November 23. “It is not uncommon for unscrupulous or debt-laden persons to turn into money combustible assets through the convenent medium of a quickly convertible fire insurance policy. Besides, In this country, where fire insurance rates are so low, over-insurance is not unknown. Increased premium rates and inquests on all fires should help to check this selfish and criminal form of destruction. In regard to the wilful burning of motor-cars, the latest newspaper reports from Auckland state that this ‘industry’ seems to have developed into a regular business.” So stated Mr. John Moloney, chairman of directors of the National Insurance Company, in his address to the annual meeting of shareholders this afternoon. “The chairmen of other . New Zealand insurance companies,” added; Mr. Moloney, “have recently commented on the enormous fire waste in the Dominion, and although the - insurance companies are called upon to pay the losses it is nevertheless an economic loss to the community and waste of wealth that should give our Government food for thought.”