EARTHQUAKE FUND

Otago Daily Times, Issue 26214, 26 July 1946, Page 9

EARTHQUAKE FUND

TOTAL OF NEARLY £5,000,000 SOME SMALL CLAIMS MET (From Our Parliamentary Reporter.) WELLINGTON, July 25. The Earthquake and War Damage Fund amounted to £4,839,228 on March 31 last, states the annual report of the Earthquake and War Damage Commission which was presented in the House of Representatives to-day. The premium income received during the past financial year amounted to £365,861 and the income received by way of interest was £104,752. Claims paid during the year totalled £507. The report states that a number of claims for earthquake damage were dealt with during the year, but the damage generally was of a minor nature and, on investigation, the loss in many cases was found not to exceed the amount of the franchise applicable under the regulations. Arising from the earthquakes at Hanmer Springs on August 30, 1945, 43 claims were made and from the shock of February 12, 1946 when the maximum intensity was in the V/anganui district. 17 claims were made. Claims were also made for earthquake damage to property at Auckland, Napier, Dannevirke, Raetihi, Taihape, Marton, Palmerston North, Lower Hutt, Wellington, Christchurch and Invercargill. The survey of buildings which was commenced two years ago had given very valuable information from the insurance aspect, but progress was slow owing to the lack of sufficient expert staff. Every effort was being made to have this essential work expedited.