EARTHQUAKE RISK
AUCKLAND OPINION By Telegraph—Press Association AUCKLAND. July 26. The opinion that the Earthquake Protection Bill should be referred to the Select Committee for evidence to be heard, was expressed by the Chamber of Commerce to-day. It considered evidence should be obtained on the following points: (1) It is generally accepted by expert opinion that the earthquake risk north of 311-deg (through Kimihia) and south of 44deg (just north of the Rangitata river) is relatively nonexistent, and at the present time, people in those areas can procure an earthquake cover from insurance companies on relatively advantageous terms. The executive holds the view that these varying risks should be allowed for in the imposts suggested under any Bill. (2) The fund should be divorced from Parliamentary and Civil Service control. (3) The tax might be better collected independently of insurance premiums. (4) A portion of the tax revenue might be used to purchase an indemnity. (5) Provision should be made to deal with earthquake damage to uninsurable property.
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Bibliographic details
Timaru Herald, Volume CXXXVIII, Issue 19862, 27 July 1934, Page 16
Word Count
168EARTHQUAKE RISK Timaru Herald, Volume CXXXVIII, Issue 19862, 27 July 1934, Page 16
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