REPORT OF THE EARTHQUAKE AND WAR DAMAGE COMMISSION ESTABLISHED UNDER THE EARTHQUAKE AND WAR DAMAGE ACT, 1944, FOR THE YEAR ENDED 31st MARCH, 1946

Appendix to the Journals of the House of Representatives, 1946 Session I, B-11

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1946 NEW ZEALAND

REPORT OF THE EARTHQUAKE AND WAR DAMAGE COMMISSION ESTABLISHED UNDER THE EARTHQUAKE AND WAR DAMAGE ACT, 1944, FOR THE YEAR ENDED 31st MARCH, 1946

Presented to both Houses of the General Assembly pursuant to the Provisions of the Earthquake and War Damage Act, 1944

Wellington, lOtli June, 1946. In accordance with the provisions of section 23 of the Earthquake and War Damage Act, 1944, the following report, with statement of accounts, is presented for the year ended 31st March, 1946 : (1) There has been no change in the personnel of the Commission during the year under review. Twelve meetings of the Commission were held. (2) The following comparative statement shows the figures for each period since the scheme came into operation on the 19th December, 1941

(3) A number of claims for earthquake damage were dealt with during the year, but the damage generally was of a minor nature, and on investigation the loss in many cases was found not to exceed the amount of the franchise applicable under the regulations.

Period 19th Twelve Twelve Twelve Twelve December, Months Months Months Months 1941, to 31st ended 31st ended 31st ended 31st ended 31st March, 1942. March, 1943. March, 1944. March, 1945. March, 1946. Income— £ £ £ £ £ Premium 877,369 1,611,218 1,423,305 320,274 365,861 Interest Nil 16,623 57,469 99,516 104,725 Outgo— Claims Nil 956 55 82 507 Salaries 1,018 5,696 2,070 2,042 2,035 Other working-expenses 1,261 919 368 965 1,220 Discount to insurance offices Nil Nil 943 7,891 8,733 Audit fee Nil 120 100 75 75 Surplus 875,090 1,620,150 1,477,238 408,735 458,015 Total of Fund 875,090 2,495,240 3,972,478 4,381,213 4,839,228 Ratio, per cent., of working-expenses 0-260 0-418 0-245 3-426 3-297 to premium income Ratio, per cent., of working-expenses 0-260 0-413 0-235 2-614 2-563 to total income

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Arising from the earthquakes at Hanmer Springs on 30th August, 1945, forty-three claims were made, and from the shock of 12th February, 1946, when the maximum intensity was in the Wanganui district, seventeen claims were received. Both of these shocks were rated as Class VI on the Modified Mercalli Intensity Scale of 1931, which describes shocks of that intensity as " Felt by all; many frightened and run outdoors. Some heavy furniture moved ; a few instances of fallen plaster or damaged chimneys. Damage slight." Claims were also made for earthquake damage to property at Auckland, Napier, Dannevirke, Kaetihi, Taihape,. Marton, Palmerston North, Lower Hutt, Wellington, Christchurch, and Invercargill. (4) The survey of buildings which was commenced two years ago is giving very valuable information from the insurance aspect, but progress is slow owing to lack of sufficient expert staff. Every effort is being made to have this essential work speeded up. (5) The Commission desires to record its appreciation of the excellent service of the staff in dealing with the work of the Commission and the many inquiries made by insurance offices and of the public. T. L. Seator, Secretary.

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EARTHQUAKE AND WAR DAMAGE FUND (Under Earthquake and War Damage Act, 1944) Income and Expenditure Account for the Year ended 31st March, 1946 £ s. d. £ s. d. Net premiums .. .. .. .. .. 365,860 15 9 Claims .. .. .. .. .. 507 3 8 Interest .. .. .. .. .. 104,724 19 2 Salaries and overtime .. .. .. .. 2,035 2 7 Fees of members of Commission .. .. . . 304 12 6 Expenses of management .. .. .. .. 990 16 5 Discount allowed insurance offices .. .. .. 8,732 11 3 Balance transferred to Earthquake and War Damage Fund .. .. .. .. .. 458,015 8 6 £470,585 14 11 £470,585 14 11 Balance-sheet as at 31st March, 1946 Liabilities Assets £ s. d. £ s. d. £ s. d. Balance as at 31st March, 1945 .. 4,381,212 14 3 New Zealand Government stock .. .. .. 4,270,000 0 0 Net income for year ended 31st March, Imperial stock .. .. .. .. .. 420,000 0 0 1946 .. .. .. .. 458,015 8 6 Cash in Public Account to credit of Earthquake and 4,839,228 2 9 War Damage Fund .. .. .. .. 71,340 8 9 Discount due on accrued premiums .. .. 1,577 6 2 Interest accrued but not due .. .. .. 18,633 8 5 Premium and other deposits .. .. .. 3,817 3 11 Premiums accrued but not due .. .. .. 63,442 19 11 •Sundry debtors .. .. .. .. .. 1,205 15 9 £4,844,622 12 10 £4,844,622 12 10 Note.—In the Balance-sheet, New Zealand Government stock has been included at par value and Imperial stock has been included at par value converted to New Zealand currency. 10th June, 1946. T. L. Seator, Secretary. I hereby certify that the Income and Expenditure Account and Balance-sheet have been duly examined and compared with the relative books and documents submitted for audit, and correctly state the position as disclosed thereby.— J. P. Rutherford, Controller and Auditor- General.

Approximate Cost of Paper.- —Preparation, not given ; printing (1,218 copies, £0 155.)

By Authority: E. V. Paul, Government Printer, Wellington.— 1946. Price 3d.]

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