DECLINE IN VALUES

Hokitika Guardian, 25 October 1930, Page 5

DECLINE IN VALUES

v FIRE INSURANCE ADJUST- . , MENTS. ; AUCKLAND, October 23. Referring, at to-day’s annual meeting of shareholders in the South British. Insurance Company, to the fact that branch managers had recently, been submitting the business on their iiooks to a close scrutiny, with a good deal of pruning in consequence, the acting chairman of directors, Mr V, J, Lamer, said:—“This pruning, is not inspiring work, The average policy-holder is usually delighted to: have his attention drawn to n rise in the value of his property, but any suggestion in the contrary direction meets with a noticeably loiss cordial reception. Insistence upon reduction of fire insurance sometimes leads to n transfer of the business to some more accommodating competitor, who is prepared to let the future look after any difference of opinion regarding value. We prefer to avoid, as far as possible, accepting a premium based on an amount we are unlikely to pay out. Tu other words, if there are to the any arguments, we think it bet--t-w to dispose of them before rather than after the occurrence of a fire.”