FIRE INSURANCE COMPANIES.
A STARTLING STATEMENT. Received May 17, 8.54 a.m. NEW YORK, May 16. Mr Miles Dawson, aotuary for the Armstrong Insurance Investigation Committee, startled the House of Representatives Committee on judicial affairs by declaring that no fire I insurance company in America knows whether it will be .solvent or not when it pays the San Francisao losses. Mr Dawson blames I the laws for requiring companies to I tiold a reserve fuod of 50 per oent. of th,e oapital, jwhereas the British reserve is 30 per cent., thus allowing British companies a larger capital to meet losses and live through a strain.
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Bibliographic details
Wairarapa Age, Volume XXVIX, Issue 8140, 18 May 1906, Page 5
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104FIRE INSURANCE COMPANIES. Wairarapa Age, Volume XXVIX, Issue 8140, 18 May 1906, Page 5
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