STRANGE INSURANCES

Taranaki Daily News, 16 March 1928, Page 9

STRANGE INSURANCES

ALL VARIETY OF RISK. -“There is practically no contingency in the world to-day that one cannot insure against,’ said Mr. A. S. Clark, of New Plymouth, in the course of an address to the Taranaki Chamber of Commerce last night. *'At Home it is possible to insure against a change of Government, and perhaps this may be possible in New Zealand before long.” Amongst other things against which ane could insure were hailstorms, tornadoes and hurricanes, having twins, bad weather and consequent loss of gates at cricket matches, carnivals, etc., change of religion, re-marriage, insanity and earthquakes. The rates for the insurance against twins were stated to be between 1 and 1J per cent., but were regulated by the frequency of similar occurencs amongst members of one’s family or ancestors. In the event of twins a lump sum of money was payable. A very interesting case in which a company operating in New Plymouth was concerned was recalled by Mr. Clark. An elderly man was confidently expected to leave his large estate to his nephew, having no children of his own. To be on the safe side the young man insured his chances for £209,000, paying £4OO as a premium. Meanwhile the elderly man’s first wife died. He married his housekeeper, and a child was born. The elderly man thus had a direct son and heir, to whom he decided to leave his property. As the premium had been paid, the insurance company was forced to meet the tremendous liability. Lives stock could be insured just as human beings are insured. One racing stallion was recently insured for £12,000. Other insurances were against boiler explosions and breaches of faith when in a position of trust, , '