STATE FIRE lUSURANCE.
INADEQUATE RATES FOR HAZARDOUS RISKS. A SUCCESSFUL YEAR. Last year is reported in the annual statement of the State Fire Insurant Office to have been tho most succefcafu.l yet experienced. The net premium income totalled £40,551, an increase of t £7270 on the previous year. Profits for the year amounted to £7046 aiter .wiping off a debit of £1441. The ratio of working expenses was reduced from 50.5 to 28.3 "lower than those of any similar business carried on in the Dominion." The investments of the office now stand at £20,000 and the reserve for unearned premiums £16,220. "The exceptionally good results of thd past year's operations," the manager adds, "cannot be', looked, lipc-n'.a*'} furnishing .evidence that tho existing rates are such a-s to ensure a reasonable margin of profit over a, series' of years. Less favourable years «re fairly certain to occur. # The rates on dm* of the more hazardous classes of fkks are, in., my opinion, inadequate."
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Evening Post, Volume LXXXII, Issue 24, 28 July 1911, Page 3
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162STATE FIRE lUSURANCE. Evening Post, Volume LXXXII, Issue 24, 28 July 1911, Page 3
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