GOVERNMENT INSURANCE
INCREASE OF BUSINESS.
[BY TELEGRAPH.— CORRESPONDENT.] Wellington, Tuesday. The Government Insurance Department reports an increase of business for the year ended December last. The total bon- . ness now in force is 48,561 policies, assur< -~ ing £11.360,796. In the, accident insurance branch there was a decrease of pre* miums. Since commencing business in June, 1901, the sum of £108,631 has b&BQ paid in compensation for accidents. ■■ The Commissioner (Mr. Richardson) reports that the financial position is most satisfactory, but the changes that are made from time to time in the legislation regarding compensation. to workmen* * > which constitutes the chief business of toe branch, render it difficult to get toe pre- -. miums on a scientific basis, and with,tw exception of those for the more .important industries they are still in a more or less experimental stage. The . position, is ajo complicated owing to the fact that u» intense competition obtaining m the ot» ness has in several important trades ocw» sioned the reduction of the rates w * basis that is unprofitable. , ;
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Bibliographic details
New Zealand Herald, Volume XLVIII, Issue 14766, 23 August 1911, Page 8
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171GOVERNMENT INSURANCE New Zealand Herald, Volume XLVIII, Issue 14766, 23 August 1911, Page 8
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