THIRD PARTY INSURANCE.
CLAIMS AND PREMIUMS.
NARROW MARGIN FOR EXPENSES
(By Telegraph—Special to Standard.) WELLINGTON, Sept. 29. For the first two years of the operation of tho Motor Vehicles Insurance (Third Party Risks) Act, the claims paid and estimated absorbed 88.5 per cent, of the premiums, leaving an exceptionally narrow margin for working expenses and jirofit. Commenting on these facts in the course of his annual report, Mr J. H. Jerram, general manager of the State Insurance Office, states that the margin mentioned would be far too low were it not for a special system of administration which had been initiated with the active co-operation of his office.
“Considering the novel aspects of the legislation and the lack of any previous experience here or elsewhere,” adds Mr Jerram, “the rates fixed in the first instance proved to be singularly accurate and only small adjustments, which do not increase the premiums in the aggregate, have since been found necessary.”
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Bibliographic details
Manawatu Standard, Volume LII, Issue 257, 29 September 1932, Page 6
Word Count
158THIRD PARTY INSURANCE. Manawatu Standard, Volume LII, Issue 257, 29 September 1932, Page 6
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