DAMAGES FOR INJURY

Wanganui Chronicle, Volume 83, Issue 167, 18 July 1939, Page 8

DAMAGES FOR INJURY

EFFECT ON INSURANCE RATES 1 RELATION Ol WAR RISKS. ; ( Per Press Association.) AUCKLAND, July 17. j The general tendency all over the; world for higher damages to be awarded in cases of personal injury was commented upon by Mr. T. Wallas, deputy-general manager of the London and Lancashire Insurance Company, Limited, who arrived by the Matarua on a visit to the company's branches in the Dominion. This applied both to the workmen's compensation and traffic cases, he added. The result was that in New Zealand, as in other places, the rates were inadequate for the risks that were being covered. The outstanding feature of the year’s fire insurance had been the Australian bush tires. Mr. Wallas said. In marine insurance ( he thought the days had gone when war risks were thrown in with th? normal policy for nothing. On the whole, however, he thought the underwriters had given the merchants very , fair treatment over the war risks and . had been quick to reduce rates when 1 .there were improvements in the international situation. Employment in England was increasing and trade generally was cri the up grade largely througn the heavier armament expenditure. France, also, was showing an improvement both financially and in trade. Although there might be criticisms in detail the p eople in Great Britain were showing a remarkable unity in support of the Government's general policy.