INSURANCE RENEWALS

Taranaki Daily News, 28 August 1930, Page 13

INSURANCE RENEWALS

DAIRY FACTORY POLICIES STATE OFFICE REFUSES RISKS. A Qf.’E'S LION OF UNDERWRITING. (By Wire Parliamentary Reporter.) Wellington, Last Night. Mr. IL G. Dickie (Patea) asked the Minister in charge of the State Fire Insurance Department, in the House of Representatives to-day: Whether it is a fact that the State Fire Office Is declining to renew, risks held on dairy factories if they are constructed of wood? And whether this policy is being pursued in connection with factories other than dairy factories? “Dairy companies in Taranaki are being notified that their policies will not be renewed and that their bankers have been notified of the position,” Air. Dickie remarked. ‘'This will seriously affect their finance."

The Hon.. Sir A. T. Ngatn replied that the State Fire -Insurance Office was not refusing to renew insurances on wooden dairy factories as a rule, but in -one or two eases, Where special circumstances had made it improbable that difficulty would arise in securing cover elsewhere, the office had for underwriting reasons expressed its wish not to renew. If, however, in any case it could be shown that cover could not be obtained elsewhere, the department's decision would be reconsidered.

“Factories are not declined as a class, but to ensure success in underwriting,” said the Minister. “The office requires to select its business with at least the same care as its company competitors, and every risk is considered on its merits."