War Risk Insurance Act 1914

Public Act		1914 No 20
Date of assent		30 September 1914

	Title
1	Short Title.
2	Validation of cover of war risk in respect of cargo in transports.
3	Minister of Internal Affairs authorized to grant cover of war risk on gold bullion exported from New Zealand.
4	Cover of war risk on other cargo.
5	Claims by insurers to be paid out of Consolidated Fund.

An Act to empower the Government of New Zealand to grant Cover against Marine War Risk on certain Exports from the Dominion, and to validate certain Cover already granted.

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—

1 Short Title.

This Act may be cited as the War Risk Insurance Act, 1914.

2 Validation of cover of war risk in respect of cargo in transports.

The cover of war risk on policies of marine insurance upon cargo in military transport vessels heretofore undertaken by the Government of New Zealand is hereby declared to be valid.

3 Minister of Internal Affairs authorized to grant cover of war risk on gold bullion exported from New Zealand.

The Minister of Internal Affairs, for and on behalf of His Majesty, may grant cover, at such rates as the Governor in Council may from time to time fix, against war risk on marine policies of insurance of gold bullion exported from New Zealand to Australia:

Provided that the total amount so insured in any one vessel shall not exceed ten thousand pounds.

4 Cover of war risk on other cargo.

Where the value of cargo of any description intended to be exported by any person from New Zealand is so small as that in the opinion of the Minister of Internal Affairs the employment by such person of London agents to effect insurance at the Imperial War Risk Office would constitute an excessive addition to the cost of insurance, the Minister of Internal Affairs, for and on behalf of His Majesty, may grant cover of war risk upon such cargo at the rates charged by the Imperial War Risk Office:

Provided that in any one vessel the total amount so covered for all insurers shall not exceed ten thousand pounds.

5 Claims by insurers to be paid out of Consolidated Fund.

Claims duly established by insurers under cover, the grant whereof is validated by or authorized by this Act, shall be paid out of the Consolidated Fund without further authority than this Act.

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War Risk Insurance Act 1914