INSURANCE RISKS

Evening Post, Volume CXXVIII, Issue 14, 17 July 1939, Page 5

INSURANCE RISKS

A VISITOR INTERVIEWED

(By Telegraph—Press Association.)

AUCKLAND, July 16.

The general tendency all over the world for higher damages to be awarded in cases of personal injury was commented upon by Mr. T. Wallas, deputy general manager of the London and Lancashire Insurance Co., Ltd., who arrived by the Mataroa on Saturday on a visit to the company's branches in the Dominion. This applied both to workmen's compensation and traffic cases, he added. The result was that in New Zealand, as in other places, the rates were inadequate for the risks that were being covered.

The outstanding feature of the year's fire insurance had been the Australian bush fires, Mr. Wallas said. In marine insurance he thought the days had gone when war risks were thrown in with the normal policy for nothing. On the whole, however, underwriters had given merchants very fair treatment over war risks and had been quick to reduce the rates when there were improvements in the international situation.

Employment in England was increasing, and trade generally was on the upgrade, largely through the heavier armament expenditure. France also was showing definite improvement, both financially and in trade. Though there might be criticisms in detail, the people in Britain were showing remarkable unity in support of the Government's general policy.