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GERMAN INSURANCE COMPANIES IN DANGER United Press Association—By Electric Telegraph—Copyright LONDON, November 29. The Berlin correspondent of the News Chronicle” states that many German Insurance companies are in danger of bankrupt as a result of an order to pay the Government damages, .estimated at more than £50,000,000, due to Jews as a result of the recent pogrom. Most of the German companies had reinsured with British companies. The British companies, however, are refusing to assume liability on the grounds:— (1; That the damages are claimed under clvE commotion clauses which were cut out of the contracts by the Germans, or, where the clause remains, it is argued that civil commotion cannot occur in an authoritarian State. (2) That it can be proved that the damage was organised with the connivance of the Government, therefore it was an act of sovereignty that cannot ’.e covered by Insurance. (3) That both the police and firemen were remiss.
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Bibliographic details
Timaru Herald, Volume CXLV, Issue 21210, 3 December 1938, Page 5
Word Count
157FACING RUIN Timaru Herald, Volume CXLV, Issue 21210, 3 December 1938, Page 5
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