FIRE INSURANCE
EXORBITANT PROFITS ALLEGED (F.0.P.R.) WELLINGTON. Aug. 19. A claim that the fire insurance companies were making exorbitant profits, due to the high premiums charged for fire risks, was made by Mr F. Langstonc (Govt,. Waimarino) in notice of a question in the House of Representatives today. He asked the Minister in Charge of the State Fire Office, Mr D. Wilson, if he would instruct the State Fire Insurance Office immediately to reduce the premiums charged for fire risks in all the fire board districts in New Zealand.
In a note to his question, Mr Langstonc ! said that in the Taihape Fire Board disj trict the premiums paid for the past five ■ years totalled £17,184, whereas the losses I amounted to £2421. This indicated that I only 14 per cent, of the premiums were ! necessary to cover fire losses. The Tai- | hape Borough Council had to provide ! the water service required for fire pro- ! tection purposes, and, in addition, to find £250 a year as its quota for the upkeep of the Fire Board. The position in Taihape was similar to that in other fire board districts throughout the Dominion.
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Bibliographic details
Otago Daily Times, Issue 25309, 20 August 1943, Page 6
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191FIRE INSURANCE Otago Daily Times, Issue 25309, 20 August 1943, Page 6
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