WAR INSURANCE
AUSTRALIA’S SURPLUS CANBERRA, October 20. No contributions to Australia’s w.ar risk insurance scheme will be required during 1944 from firms and persons already covered under the scheme. The figures on which the Commonwealth War Cabinet reached this decision, show that almost £14.000,000 will stand to the credit of the scheme by the end of this year. One estimate of the total of likely compensation payments under- the scheme is £5,000,000. The scheme will thus remain in operation but contributions for 1944 will be payable only by those who acquired property after January 1 next or who now being uninsured wish to insure voluntarily. Australia has about 2,000,000 contributors to the war risk insurance and the fund created has been invested in Commonwealth loans. The main liabilities of the fund for war damage will occur in New Guinea and Darwin. The bulk of the compensation will be paid at the end of the war.
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Grey River Argus, 21 October 1943, Page 2
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155WAR INSURANCE Grey River Argus, 21 October 1943, Page 2
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