513
Brigade may be taken as $18,000, in addition to which the Local Insurance Companies spend $10,000 a year in maintaining a very efficient Volunteer Brigade. Here then is $28,000 expended annually by the Community in precautions against fire, without reckoning anything for Chinese Engines and Brigades, or for the water rate of 2 per cent on rentals, a portion of which is for fire purposes.
The result of this expenditure from purely Colonial funds has been to make Hongkong a very safe place regarding fire, Hongkong being good risks. In consequence, the Home Companies, contributing nothing to the arrangements by which this has been brought about, collect premiums here to an annual amount estimated at $500,000. These Home Companies used to maintain Fire Engines here, but I am told they have all been allowed to drop into disuse.
Nor is this the whole evil. Some Companies, in their anxiety to get business, have adopted a system of insuring the contents of Chinese shops without sufficient enquiry and of paying for losses also without much enquiry, which has proved very fruitful of incendiary fires. The Local Companies therefore find themselves in the position of having to pay for the extinction of fires caused by the reckless policy of their competitors, who, whilst contributing nothing to the Colonial Fire Fund, reap large annual profits, as shown above. To all of which must be added that when Hongkong Companies insure elsewhere, they are taxed, as previously stated. The foreign Insurance Companies practically avoid the payment of any tax whatever, for, with one exception (the Straits Fire-Insurance Company), they do not maintain Offices here, but entrust their...
513
Brigade may be taken av
$18,000, in
addition to which the Local Fourance
Companies spend $10,000
year
in
maintaining a very efficient Volunteer Brigade. Here then is $28,000 expended
an
nnually by the Community in precautions against fire,
without reckoning anything
for Chinese Engines
and Brigades, or for
the water rate of 2 per cent on rentals,
QOHUL
of which at least in
· portion of which
fire purposes.
P
for
The result of this expenditure from purely Colonial funds has been to make Hongkong a very cafe plase regends fire, Hongkong risks
e good risks . In consequence, the Home Companies, contributing nothing to the
AAAAAD
arre
by which this has been brought about, collect premiums here to an _ annual amount estimated at $500,000, These Home Companies used to maintain Fire Engines here, but I am told they have all been allowed to drop into disuse.
9. Mor
9.
Nor is this the whole evil. Some
in their anxish to get
Foreign Offices,
business, have adopted a system of
insuring the contents of Chinese shops without eufficient enquiry and of paying for losser also without which has proved only tor fruitful.
pource
very
much enquiry
a
of incendiary fires . The Local Companies therefore fired the merelves in the position of having to pay for
tinction of fires
the
of fire caused
caused by the reckless
policy of their competitors, who, whils contributing nothing to the Colonial Fire Lund,
large annual profits, as
alcatre
whown above. To all of whick
must be
added that when Hongkong Companies
elsewhere, they are laxed,
go
av
previously stated. The foreign Insurance
Companies practically avoid the payment of any
with
orre
lovers whatever, for,
exception (the Straits Fire- Tourance Company ) they do not
maintain Offices here, but entruct __
their
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