Fishermen Looking To Own Insurance
(New Zealand Preu Association) INVERCARGILL, June 10. Concerned at the rising costs of insuring their vessels, members of the Bluff Fishermen’s Association have decided to investigate the possibility of forming their own mutual insurance company.
A committee has been appointed to go into the question, and the association has the services of an Invercargill solicitor. The president of the association (Mr R. J. Ballantyne) said tonight that at a meeting of the fishermen on Saturday about 85 per cent of those present, including a representative of a major boatowning company, were in favour of the scheme. “Other organisations have
formed their own Insurance schemes. The cost of insurance is very high, and the members, seeking to lighten the heavy cost of running their boats, have decided to investigate the possibility of forming their own insurance scheme to lighten costs,” Mr Ballantyne said. Each boat-owner would be a shareholder. Mr Ballantyne said he understood that an initial capital of $500,000 would be required.
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Bibliographic details
Press, Volume CVIII, Issue 31702, 11 June 1968, Page 28
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167Fishermen Looking To Own Insurance Press, Volume CVIII, Issue 31702, 11 June 1968, Page 28
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