MARINE WAR RISKS.

Pahiatua Herald, Volume XIX, Issue 4944, 18 September 1914, Page 5

MARINE WAR RISKS.

REDUCTION OF RATES. (By Telegraph.— Special Reporter.) Wellington, This Day. A few days ago there was a brief argument in the House between the Leaders of the Government on the one hand and Sir Joseph Ward on the other about the ruling rates for marine war risks. Tlie Minister for Defence declared that the rate at which the War Risks Office in London were giving covers was two per cent., but Sir Joseph Ward, speaking apparently from certain knowledge, said that insurance could not be procured at rates so low as this. Yesterday afternoon Mr A. M. Myers (Auckland East) asked the Prime Minister whether he was aware that the war risk rate from New Zealand was reduced from four per cent, to three per cent, from that day,. Mr Massey: In the War Risks Office it is £2 per cent. Mr Myers: lam talking about the London Underwriters’ Institute. Mr G. W. Russell (Avon): Might I suggest that the High Commissioner should he asked to cable out to the Government from day to day what is the posi tion in regard to war risks. Mr Massey: I have no objection to doing this, but I may say that the Home Government keeps us informed regularly as to the rate, though not from day to day. Mr Fisher: Tlie underwriters get it every day.