FIRE INSURANCE RATES.

Stratford Evening Post, Volume XXIX, Issue 107, 27 June 1911, Page 5

FIRE INSURANCE RATES.

INFLUENCE OF THE STATE OFFICE. (Per Press Asociatsion.) Christchurch, June 27. Replying to a resolution of the City Council regarding the State Fire Insurance Department’s rates, the Hon. Geo. Fowlds has written that the State Office is in no sense under any obligation to follow the ratings of the private companies. At the same time, the State Office must not be forced into adopting rates which would place the office in the position of making losses. Continuing, ho says:— “Your council seems to have overlooked, the fact that consequent on the coming into operation of, the State Office the rates on the majority of fire business of the Dominion were reduced up to 33 1-3 per cent., which has resulted in a saving to the people of exceedingly largo sums annually. The rates so reduced have never boon considered adean'ato by the State Office, and very good and substantial reasons must .be advanced for any further reductions even in special areas.” One councillor said that if lie had the time ho could show that the Department had accepted the dictation of the mivatc offices. The letter was received.