STATE FORMS OF INSURANCE.

Evening Star, Issue 111556, 15 February 1900, Page 3

STATE FORMS OF INSURANCE.

TO THE EDITOB, Sip., —lt is both pleasing and satisfactory to note the accomplishment of accident insurance by tho State. An ingenious writer has pointed out that if a nation were sufficiently enamored of security it could devise a grand insurance scheme to cover almost every concern of life. In an educated and collectivist democracy such as ourselves all these conditions are present, developing themselves parliamentary, session to session. Insurance takes more the form of art than science, although certaiu scientific formula must ho present—sufficient number of nersons pertaining to similar risks, data of probability acluariiy calculated, etc. Experience is evolved ns we go aienr, new fields opened opened out, and some of the early ones of iho nineteenth century abandoned. Lloyds’ seem to cover the chance of everything, legitimate and illegitimate, from the birth of twins to burglary, with the chances of the Transvaal War lasting so many months, with .so many lives lost. These are only a few of their risks. Our next session should decide the question of State tire insurance, by the Premier reintroducing his measure. The advantages are so many and obvious that recapitulation scorns unnecessary. Tho whole colony would become a mutual benefit society against the ravages of fire—the profits shared in by reduction of premiums (as with some marine companies at nrcsent), a uniform system of rating, and policy conditions understandable between insured and insurer. 1‘ cozen meat to London, even, may may find a placo in a State policy, thus benefiting sheep farmers and graziers. Progressive legislation tending to keep all we can in New Zealand should be encouraged and fostered by all shades of politicians, and the State would become ordinary competitors, certainly more advantageously placed than their neighbors, thus securing" a larger share of patronage, with mutual benefit to the colony as a whole. The incentive towards incendiarism, too, would also be checked, because the insurance would be mutual, and parliamentary inquiries made as payments and values, thus stamping out that bete noir of the underwriter, over insurance, which is a fruitful source and encouragement for eff cting ready and profitable sales to the non-conservative.—l am, ofc-* Fredic. Mallard February 13.

P.S.—Since writing I notice a company has recently issued a prospectus of special interest to fathers and mothers. It contains a clause insuring an indemnity in the case of the blessing, or otherwise, of twins appearing in their households. For a small weekly, quarterly, or yearly payment, a sum varying trom £lO to £2O becomes due on every occasion that the family is increased in a double ratio. The actuaries do not seem to have been able to compute the scale of payment on which the companies would to take the risks against triplets.