EARTHQUAKE RISKS

Poverty Bay Herald, Volume LX, Issue 18255, 25 November 1933, Page 5

EARTHQUAKE RISKS

INSURANCE QUESTION

UNDER INVESTIGATION

STATEMENT PA" MINISTER

(Parliamentary Reporter.) WELLINGTON, this day. An. investigation is now being held by the general n®)ager of the State Fire Insurance Office into the subject of earthquake insurance premiums, and when this is received the Government will consider the question of introducing legislation dealing with the subject. . When the State Fire Office estimates were under consideration in the House yesterday, Mr. W. E. Barnard (Lab., Napier)' asked if it was proposed to hold such an investigation, and whether earthquake insurance would be made available at reasonable-rates. He pointed out that, earthquake premiums in Caliiornia were little' above fire rates. Sir Apirana Ngata, Minister in charge of the department, said that such an investigation was now under way. Im mediately after the Hawke’s Bay earthquake two years ago everyone was very jumpy, and it was felt that it would be better to allow tilings to settle down rather than to do anything at that time. In reply to a question oy Mr. Barnard as to whether the report would be made available to the House, tTie Minister said that if l't was decided to introduce legislotion dealing with the subject, the revport would be made available. Mr. Barnard pointed out. that those who had rehabilitation loans had been compelled to take out earthquake insurance. , The Minister : ; We are now able to lobk into it in a much cooler light.

Mr. Barnard: The Minister sometimes adopts a policy of “taihoa.” The Minister: Sometimes a policy of "taihoa” is not bad.