EARTHQUAKE BISKS.

New Zealand Herald, Volume LXIV, Issue 19762, 8 October 1927, Page 10

EARTHQUAKE BISKS.

SOME INSURANCE BUSINESS. LOFTY CITY BUILDINGS. AUCKLAND OUTSIDE "ZONE." Earthquake risk is a growing branch of insurance in Auckland. It is not the result of a sudden wave of anxiety as to this danger, but rather because the risk presents itself to people's minds since the city started definitely to build upwards. Another factor has been the insistence of certain trustees who have lent money for the construction of large buildings that earthquake cover should be secured. Ot course, this class of insurance is by no means new, and is widely secured in America, where cover can even be obtained against loss through tornadoes. The ordinary policy does not provide against earthquake risks, which are of two kinds, those due to shock and those resulting from fires following 'quakes. Policies embracing either or both are now being taken out for many of the tall brick or concrete structures in the city at usually less than those charged for ordinary risks, which, in the case of numbers of the new commercial buildings, are fairly low. Auckland, however, is not in what is called by insurance companies the earthquake zone of New Zealand. That is the area east of 172 degrees east and between 38 degrees south, and 43.20 degrees south, or roughly the area between Hamdton and Ashburton. A higher rate for earthquake risks is charged in this area. In no case, however, do they appear to bo regarded as more than remote hazards.