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New Zealand Mail, Issue 1514, 7 March 1901, Page 16

In consequence of the exceptionally heavy losses suffered by underwriters during; the present month it is reported that’ at the conference of underwriters held in Dunedin it was decided to increase the rates of insurance, but no official announcement has yet been made on the subject. During the past few weeks the insurance companies have lost heavily, principally through the destruction of the Dunedin tramways, the Patau gata Hotel, a hotel at Dargaville, business blocks at Feilding and Hawera, and the fire at the Stewart Timber Company’s sawmill in this city. Although only two monthsi of the present year have gone, the losses suffered by insurance companies in the colony run up to about £140,000, mostly in the North Island.