EXHIBITION INSURANCE
A STRONG PROTEST. A protest was made by Mr. Ballinger, chairman of the Industrial Association, last evening, at the rates of insurance demanded in connection with the forthcoming Industrial Exhibition. He had met ono gentleman, he said, connected with an insurance company, and had told him it was scandalous to ask at the rate of 40s. per cent, per annum. The charge for ordinary business risks was only Bs.' 4d., and the demand of the insurance companies now was 10s. per cent, for the three months the exhibition would be running. He failed to see where the extra risk arose. The "J" building was entirely of brick and concrete, and there were ample fire appliances. A penal rate- was being charged; the ordinary builders' risk was only Is, 6d. per month. 'It was time they protested strongly. A member: "What is the good of protesting?" Mr. Ballinger: "Well, I told the representative of the company my firm would not insure bur exhibit at all. I advise all exhibitors to do that." A member described the action of the insurance companies as that ■ of an "underwriters' trust." The chairman: "There was an article in The Dominion this morning which bears out what I Say." He proceeded that it would be necessary to insure the art section, otherwise they would not get pictures. He would not be surprised if the excessive rate would not make it impossible for them to accept some of the more expensive pictures. As far as the buildings themselves were concerned, their liability to the Harbour Board made it necessary to take no risks whatever. "The companies know we have to insure, and they are doing this purposely." The- secretary said that when the last smaller exhibition was held on the old Town Hall site, the total insurance was only £87. . ' . A member of the association inquired if the Government were in the ring. Cries of "Yes, yes." The chairman said he did not know. It was decided to write a letter of protest to the Underwriters' Association. ' ■
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Bibliographic details
Dominion, Volume 4, Issue 1100, 12 April 1911, Page 7
Word Count
342EXHIBITION INSURANCE Dominion, Volume 4, Issue 1100, 12 April 1911, Page 7
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