THIRD-PARTY INSURANCE

Press, Volume C, Issue 29548, 24 June 1961, Page 15

THIRD-PARTY INSURANCE

Withdrawal Of Company The many motorists throughout New Zealand whq had nominated the Standard Insurance Company, now in liquidation, for third-party insurance when relicensing their vehicles have caused a great deal of additional work for motor registration offices. Although the shareholder.of the Standard Insurance Company agreed to a wind-ing-up on May 8, it was not until June 19 that the Post Office was informed that it had revoked its intention to accept third-party business. For 19 days, many motorists throughout the country had noticed that the company appeared among the list of approved companies on the back of the registration form and had nominated it Chief postmasters were advised of the situation, and all motorists now making application by post or over the counter and nominating the company are being asked to make another nomination. In the case of those who have already registered their vehicles and received plates, postal advice will be given, if the reply is not received by the Post Office by June 30. the insurance will be passed to the company nominated last year. Where this is also the Standard Company, the business will automatically be transferred to the State Fire Insurance Company. The Chief Postmaster in Christchurch (Mr C. J. C. Simpson) said last evening that there would be nominations of the Standard company in transit, but if the persons concerned wrote indicating another choice ot company and the letters were received before July 1. the new choice would be forwarded. Otherwise, all nominations in the name of the Standard company would be forwarded to the State Fke company. “There has been no slipup in the nominating of the company," said Mr Simpson. "The Standard company was authorised to accept thirdparty risks until the notice of revocation wae received on June 19." All forms nominating the company are at present being sorted from the 116,000 held by the South Island motor registration office in Christchurch.