FIRE INSURANCE RATES.
RE-CLASSIFICATION OF GISBORNI*
"I have pleasure in informing you," wrote the secretary to the Fire Underwriters' Asosciation in a letter to the Borough Council, received last evening, "that as a result of a general re-classi-fication of New Zealand towns, for insurance purposes, it has been agreed by this Council and the State fire office to reduce the classification of your borough from class "F" to class "E." The above reduction without going into technicalities, which cannot be dealt with here, will roughly represent from 5 to 20 per cent., according to tariff provisions depending upon the distance by which the risks are separated from one another.
"The insurance companies look .to your Council to see thut at all times .ah assured water supply can be depended upon. In the event-of'the proposed reservoir being erected in the town area, the insurance companies would then be in a position to favorably consider a further reduction in rates."
The letter was received, Cr. Todd's enquiry as to how much it would mean to the borough remaining unanswered.
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https://paperspast.natlib.govt.nz/newspapers/PBH19221018.2.75
Bibliographic details
Poverty Bay Herald, Volume XLVIII, Issue 15956, 18 October 1922, Page 9
Word Count
177FIRE INSURANCE RATES. Poverty Bay Herald, Volume XLVIII, Issue 15956, 18 October 1922, Page 9
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