FIRE INSURANCE
Sir, —I am glad to sec in your columns that the council of the Fire Underwriters' Associations of New Zealand is suggesting the addition on lire insurance policies of a statement of the nature of a fire insurance contract. It may be well to explain that a fire insurance policy is a contract of indemnity only, but the insurance offices should be required to make annual valuations to eliminate the danger of over-valuation, and in the event of an "indemnity" being paid, the office interested should refund the difference arising (if such occur) between the premium paid on the amount specified in the policy and that which would be payable as premium on the "indemnity" paid. John Archer. Selwyn Road, Epsom.
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New Zealand Herald, Volume LXXI, Issue 21845, 6 July 1934, Page 15
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123FIRE INSURANCE New Zealand Herald, Volume LXXI, Issue 21845, 6 July 1934, Page 15
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