MUNICIPAL INSURANCE

Taranaki Daily News, 12 August 1930, Page 4

MUNICIPAL INSURANCE

(H’E.RATTON IN DUNEDIN. .HEAVY YEAR FOR Fl ND. Dunedin is the only city in New Zealand which conducts its own municipal insurance, although the establishment of such a fund has been considered in some of the other centres. In reviewing the progress of the insurance fund for the past year, the town elefk, Mr. G. A. Lewin, states:— ‘‘The year’s operations in connection with the accident and fire insurance fund have been much less satisfactory than in many of the immediate past years. Indeed, it is probably the worst experience we have so far met. in handling the business of our own risks. This is notably the case in respect of the accident branch, where the total claims paid amounted to £6588. Unfortunately, the figures are increased by the occurrence of two fatal accidents. In addition, there has been an abnormal number of cases of permanent partial disability, and these have, called for fairly heavy payments. ‘‘The surplus standing to the credit of the combined fund when the year opened was £64,627, £39,596 in respect of the fire branch, and £25,031 in respect of the accident branch. At the close of the year the amounts had risen to £42,809 and £42,053, a total of. 67,462, The final result is a net gain for the , year, of £2835, and this is the lowest surplus we have had for" many years.”