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Illustrated Guide to Christchurch and Neighbourhood

The New Zealand Accident Insurance Company

The New Zealand Accident Insurance Company

Is the premier and oldest established Accident Insurance Company in these colonies, having been established in 1879. Its capital is £100,000, with unlimited liability of shareholders, and its head office is in Auckland, with branches throughout New Zealand, and agencies in all the colonies. The Christchurch Branch has its offices in Inglis' Buildings, Cashel and High streets, Mr. Ralph Levoi being the superintendent. It insures against accidents of all kinds, and gives fixed sums according to the rates paid, on accidental death, and as compensation for permanent partial, and permanent total disablement; and also weekly sums for temporary disablement. The number of claims it has paid are as follows:—In 1880, 64 claims; in 1881, 346; in 1882, 407; in 1883, 617; and in 1884, 617; making in all the enormous number of 2051 claims paid in five years, representing a total sum of £19,061 2s. Of this, a little over £5000 is for policies paid in full—that is, on the death by accident of the insured—the balance being compensation, weekly and otherwise, for disablement from accidents. One regulation of this company is deserving of particular notice, namely, that a free policy for one year is granted after five consecutive annual payments have been made where no claim for compensation has been made, which absolutely equals a return of 20 per cent., or one-fifth of the premiums paid. Notice of accident should in all cases be sent in to the Branch Manager or Agent for the Local District within seven days from the page 209happening of the accident. The full amount insured is payable should death occur at any time within three months from the date of accident. A pamphlet, showing "What became of the £20,000 paid by the New Zealand Accident Company," giving what are termed "startling disclosures," is well worth perusal by anyone whose own or whose family's maintenance depends upon his daily business or labour, and his weekly or monthly salary. It is a list of claims paid, giving names, addresses, and amounts, and is strikingly suggestive of a vast amount of suffering and inconvenience averted by the exercise of a little prudence and the payment of so small an annual sum that its weekly saving can scarcely affect the expenditure of the poorest family.