INSURANCE.

Star (Christchurch), Issue 36, 25 June 1868, Page 3

INSURANCE.

TO TUB EDITOIt OF THB BTAU. Sir,— T have beon informed to-d »y that I must pay 4 por cent instead of 2, to get my property insured, On consideration, I find that my profits will not afford the additional impost, I am suro thatns ninny as can form nn idea nn to what tho Insurance Companies liav^ paid In tho shape of houses burned, and what they havo received for insurance on property In Canterbury, will find that thoy have already made moro thnn a very bnndsomo profit, nnd must also como to tho conclusion that thoy aro going to make us pay for thoae provinces In which flros havo been and arc moro frequent. At the outset, I must confess that I do not fully understand tho working of an Insurance Company, but I do understand that my profits will not cnnblo mo to pay 4 por cent. I think it would bo very desirable for as many na can to try nnd form a Mutual Insurance Company (Limited). Ido not, for a moment, Hiippose that I can suggest tho best scheme, but I will do my utmost. Suppose ten men, whoso proporty is situated in different parts of tho town, ngreo to insure ono another, say. for £1000 each, and givo a Hen on thoir proporty as a security that thoy will carry out their engagements in case n lire should occur. Suppose, further, that ono of thoso ton properties is burned down ovory flvo years (being properties most ! likely to take lire). Say they aro all public houses 5 then they would bo flvo tinies more unfortuuato tban anything I havo ever experienced. If ono is burned down every Aye • years, 2J por cent would moro than cover the losses. Trusting that othors will take up this subject, and deal with It more ably, I am, Your obedient servant, OVER-CIIAKGED.