REGATTA INSURED.

New Zealand Herald, Volume LXIX, Issue 21136, 19 March 1932, Page 10

REGATTA INSURED.

COVER AGAINST RAIN. POLICY FOR NGARUAWAHIA. SUM OF £3OO PROVIDED FOR. The Ngaruawahia regatta, which will be held to-day, is the subject of an insurance policy covering the Regatta Association against loss in case of rain. Contrary to general belief, which is that the sum assured is only paid in the event of a rainfall of lin., liability is actually incurred if the rainfall measures one-tenth of an inch. The amount of the policy is £SOO, and the terms provide that the sum assured •must be paid to the Regatta Association if the rainfall at Ngaruawahia amounts to one-tenth of an inch or over between 7 a.m. and 11.30 a.m.* to-day. The policy was taken out on March 10, and the premium is £36, which represents a rate of 12 per cent. The rainfall, if any, is to be measured by rain-gauge at Ngaruawahia, and by mutual consent the assist-ant-county council engineer will act as meteorological observer. The insurance of public functions against loss on account of rain is not an uncommon precaution. Similar action was taken by the New Zealand Cricket Council for the first day of the .first test match between South Africa and New Zealand in Christchurch recently, and by the Morrinsville Agricultural and Pastoral Society in connection with its show last week.