STILL UNSETTLED

Evening Post, Volume CVI, Issue 111, 7 November 1923, Page 5

STILL UNSETTLED

EARTHQUAKE INSURANCE

JAPANESE COMPANIES .WILL PAY

ACCORDING TO ABILITY*

(UNITED PRBIB ASSOCIATION.—COPSUQUf.)

(Exclusive to Australian Press Association.)

(Eaceived 7th November, noon.)

TOKIO, sth November.

The insurance problem is still unsettled. Tho Osaka companies have been holding out, but now it is reported that only one company stands in the way of settlement. ■ In Tokio alone the losses of property covered by general insurance policies amount to £200,000,000. but almost all these policies have reservation clauses against earthquake and fires following earthquake, and such events under the general heading of "Acts of God." Branches of twenty-eight foreign companies have been instructed that the head offices cannot recognise contractual liability for damages, and can not mate any payment whatever apart from the terms of the policies. Public opinion has, however, risen so high m favour of those insured that most Japanese Companies have announced their willingness to make'as much yded that such a course does not endanger their business, and the Government assist them to continue operations