STATE FIRE INSURANCE

Otago Daily Times, Issue 14279, 30 July 1908, Page 5

STATE FIRE INSURANCE

ANNUAL REPORT.

(From Our Own Correspondent.) WELLINGTON, July 28 Tlio report of the Stato I'iro Insurance Department for the year 1907 stales that . the net income of the department for the three years since its inauguration has been »s follows: — f •'; ■••- ■ £13,127 iqm •■ ' ■•--•■• 20,86? , , 1907 23.194 Die report says : -« That the rates of premium for hrc insurance in New Zea?,l ,f r l tOO ( IOW JS i S , !l0W ? by lh ° f«t that the j-c.,1,, attained by the State Eire In!Tf' C .°i °" lte , operations during the past three years show a profit of o,dv ibc6 after writing off £n, 9 02 and rwcrv wg iuil or unearned premiums. The Untfiiof the reduced rate." The stateIff kii aicou , nis sh °*vs that, after writing Off £634 as the third' quarter of the prelmmary expenses and reserving an additional £iM for unearned premiums, there is a credit balance of £867. This is claimed to bo a very satisfactory result, seeing tnac it has been attained " free of ccst to -£e public, in the face of strong and active : co-operative opposition, and at rates which have during the whole period been the lowest in the world for similar'risks." }t is stated that Uie department's con.nbution toprds the maintenance of fire brigades will range from 5 to 7-i per cent, of tlio premiums received at each centre Y/hero a fire brigade working under the "ct is in operation.