FIRE LOSS

Evening Post, Volume CVIII, Issue 27, 31 July 1924, Page 7

FIRE LOSS

ADDRESS TO ACCOUNTANT

STUDENTS.

An interesting address on "Fire Loss Assessments" was delivered to members of the Wellington Accountant Students' Society last evening by Mr. F. G. Cray. No accountant, said the lecturer, could bo considered proficient unless he had a knowledge of fire insurance. An assessor of fire loss must know the nature of the contract as well as the loss itself. He should always treat a claimant under a fire insurance policy as an honest person until he found him otherwise. Ho must remember that tho insurance company for which ho was acting had no wish to lose its client as well as its money. The cost price of an article was never a factor in assessing a, loss. Insurance was based on the value of ail article, not on its cost; and tho actual values, as near as ascertaiuable, wore the determining factors. Tho right of a company to reinstate anything damaged by lire was also dealt with by the speaker. A hearty vote of thank's was sr.currbd. to Mr. Cray tor hk address.