B—ll

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