FIRE INSURANCE RISKS
COMPANIES’ DECISION TO LOWER PREMIUMS. Some of the insurance companies are proposing to readjust insurance ) ates in accordance with the drop in property values. One company has advised its clients as follows: “ As we wish to view all risks upon our books to bring them up to date in view of the depreciation in values we shall be pleased if you will make any alterations to the attached proposal, sign, and return as soon as possible.” Some companies are not leaving the readjustment until the expiration of the policy, but are making refunds of part premiums, when such readjustments are made, as they only desire to collect premiums on the real insurable value.
As is generally known to valuers, land and estate agents, and propertyowners, values in property have receded at least a third in the past four years, comments an observer. The readjustment of insurance rates, based on lower property values, will probably mean a falling off in revenue returns.
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Bibliographic details
Waipa Post, Volume 48, Issue 3467, 17 May 1934, Page 5
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164FIRE INSURANCE RISKS Waipa Post, Volume 48, Issue 3467, 17 May 1934, Page 5
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