N.Z. INSURANCE CO.
THE ANNUAL MEETING. ALARMING FIRE WASTE. (By Telegraph.—Press Association.) AUCKLAND, Tuesday. At the annual meeting of the New Zealand Insurance Co., the chairman, Mr Ilorton, in commenting on the great number of fires, particularly dwelling houses, in country districts, said the fire waste in New Zealand was higher per head of population than in any other country in the world except the United States. While the preponderance of wooden dwellings was a factor, the faulty construction of healing arrangements contributed largely to the undesirable state of affairs. The Workers' Compensation Department was still causing underwriters generally a great deal of anxiety. The tendency of Parliaments was to increase the benefits payable to an injured worker or his dependents, at the same time making it difficult or impossible for companies to ensure an increased premium commensurate with the additional liability. This was particularly the case in New Zealand, where, under the amending Act of January 1, 1927, all companies were carrying extra liability without additional income.
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Bibliographic details
Waikato Times, Volume 102, Issue 17168, 2 August 1927, Page 7
Word Count
168N.Z. INSURANCE CO. Waikato Times, Volume 102, Issue 17168, 2 August 1927, Page 7
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