MUNICIPAL INSURANCE.

New Zealand Mail, Issue 1262, 7 May 1896, Page 18

MUNICIPAL INSURANCE.

to Tin; EDITOR. Sir, —I have had pushed under my office door a paper entitled " State or Municipal Insurance." In this very badly reasoned paper there are a variety of arguments used to show thai Governments or municipalities should not engage in the above work. All the arguments used just convince me aud others that either the Government or municipalities should take; up the work, and that, too, as soon as possible. No one believes that the shareholders in lire insuruice companies embark their money purely for the benefit of the public. No one believes that the above circular was reprinted and circulated purely for benevolent purpose.-,. Why, then, did it find its way under my door? Simply because of interested motives. Tho lire ollices feared a strong rival in the Government. Why did not the author of this precious article, culled from the Insur- I anco and Hanking Record, tell us what were the, total premiums received in New Zealand for any given number of years and the total losses in the same period!'' Or, better still, prepare a table showing the total premiums paid and tho total losses paid since the foundation of this Colony, together with the costs of management/in the same way as life offices prepare their tables, and then we should bo , the better able to judge of the value of the special pleading of the writer. Tho present Govmnmenl arc jest, as capable of managing tho business of lire insurance as they are life insurance, railways or the Civil Service of the Colony ; and if the

same eiliciency is shown in this new line of business the ratepayers will have cause to be thankful. I know lam paying IDs bd per cent, for my insurance on JJM-'i ll *, with the prospect of having to pay 22s (id next year. Tho now tariff did very little good to the suburban insurers, and in some cases made it worse. Ido not think the Seddon Government will back down in a hurry in this or anything else.— 1 am, &c, Insurer. Wellington, April 20th.