EXHIBITION INSURANCE RATES.

Oamaru Mail, Volume XXXIX, Issue 10760, 6 May 1911, Page 4

EXHIBITION INSURANCE RATES.

(Pep. Press Association"-) "Wellington, May 5. "When the matter of insurance of the Harbor Board's buildings during the term oi the Industrial Association's Coronation Exhibition was under consideration. it was thought by those in charge of the matter that the underwriting rates were too high. Some objection to them was raised at the time, but now the association, iinding

it cannot help itself, has had to insure the building without further delay, and at the original rates quoted. According to the terms oi the deed of lease by the association from the Harbor Board, the policies must be taken out with the Standard Office. There was no time in which to call the Harbor Hoard together to consider, if. indeed, it were thought advisable to do so at all, any modification of the terms of that agreement. The terms upon which the insurance of the buildings was effected yesterday were as follows: —On tlio buildings, totalling in value £43,000, tlie premium for the three months during the currency of-the exhibition will be"as on £22,200 5s per cent., and as on £20,800 6s 8d per cent., for the period of three months, or £124 6s Bd. It is considered that this is a record rate of insurance, inasmuch as what are known as fireproof buildings in "Wellington are insured at 8s 6d per cent, per annum. -The State Fire Department, it is understood, was prepared to quote to 4s 6d per cent, for the three months. The underwriters have fixed the. rate of insurance of the contents at 9s per cent. Exhibitors must make their own arrangements as to insurance of their property.' Some of them, it is understood, are prepared to carry the risks themselves, holding tlie.rate to lie too lngli.