MARINE INSURANCE.

Otago Daily Times, Issue 19270, 6 September 1924, Page 10

MARINE INSURANCE.

RATES ON PRODUCE. REDUCTIONS OBTAI NED. (From Our Own Correspondent.) WELLINGTON. September 5. The question of marine insurance on dairy produce was mentioned in the House of Representatives to-day by the member for Stratford (Mr R. Masters). Mr Masters said hq would like the Minister to tell the House what was being done in the direction of relieving the position so far as this class of insuarnce was concerned. Undoubtedly it was a very heavy charge at the present time on the producers of the country. Not less than £135,000 was spent on it every year for dairy produce. It was one of the questions the Minister of Agriculture should give serious consideration to. Mr Masters said he understood the matter was under the consideration of the Meat Control Board and the Dairy Control Board at the present time. Ho was satisfied these boards could undertake their own marine insurance. There was a rugo profit in this particular kind of insurance. Ho thought that failing the two control boards taking up the marine insurance of primary produce, it should bo the function of the State Fire Insurance Department to extend its operations to include marine insurance. He hoped the Minister would take the matter into his very serious consideration. It was found that private individuals now were undertaking their own insurance. Replying to Mr Masters, the Minister said the Meat Board had been successful in getting the insurance on meat - reduced from 42s to 225. The Dairy Board was now, going into the matter, and the marine insurance on dairy produce had come down by 33 1-3 [XT cent. There was a prospect of a further reduction. Mr Masters; Twenty-two shillings is still very high. _ • _ Mr Nosworthy; But it is verv good to have got it down from 42s to 225. Mr Masters; Why should' meat be 22s when ordinary merchandise is only 9s 6d?