EARTHQUAKE RISKS

Taranaki Daily News, 30 March 1935, Page 9

EARTHQUAKE RISKS

QUESTION OF INSURANCE INQUIRIES BY THE GOVERNMENT. DISCUSSION IN PARLIAMENT. COMMITTEE RECOMMENDATIONS. (By Wire—Parliamentary Reporter.) Wellington, Last Night. A non-committal answer to a question by Mr. W. E. Barnard (Lab., Napier) concerning the introduction of legislation providing for earthquake insurance was given by the Rt. Hon. G. W. Forbes in the House of representatives to-day. Mr. Barnard said the Public Accounts Committee had recommended that . a committee should deal with the question of insurance against earthquake risks in conjunction with the State Fire Insurance Office. He inquired whether that committee had been appointed. “The Government,” replied Mr. Forbes, “has been making preliminary inquiries in regard to the question of insurance against earthquake risks. The general manager of the State Fire Insurance Office visited London last year, and in fact was at London when tire Public Accounts Committee made the recommendation referred to. He had extensive conferences and discussions when at London on the subject of earthquake insurance generally, and the results of his inquiries in ure shape of a comprehensive report will shortly be considered by the Government.” It was not desirable to set up a recess committee to deal with the subject until all the necessary information had been collected and inquiries made, Mr. Forbes added, dnd in the latter connection a conference had already been held with the insurance companies, and it would again be necessary to discuss with them the further suggestions made as a result of the general manager’s report. “As to whether a Bill can be introduced next session to provide for earthquake insurance, this must depend to a large extent on the consideration of the report of the general manager of the State Fire Insurance Office,” Mr. Forbes said.