INSURANCE RISKS.

Dominion, Volume 4, Issue 1137, 26 May 1911, Page 8

INSURANCE RISKS.

AN INSTITUTE REVIVED. THE ART OF UNDERWRITING. A well-attended meeting was held last evening to consider tho advisablencss of resuscitating the Insurance Institute of New Zealand which existed for a number of years with headquarters in Wellington, but which has been dumb for some lime past. The chair was occupied by Mr. K. J. White, who remarked on the necessity for reviving tho institute. The experience of older countries was quoted as an indication of (he need far an institute. Insurance work was becoming more and more an education and a business of specialisation. Eachjnonth required that insurance should be more and more specialised in all its branches, and this was one particular reason why the institute should be a live educative body. The question was whether the old institute should bo revived, or' an entirely new body formed. Personally he believed that it would be best to resuscitate the old institute. ■

Mr. Cray considered it essential, in the interests of all branches of underwriting, that there should be a live institute which would cover fire, life, marine, and accident insurance. If they could train up a set of caiwble fire underwriters, >lew Zealand would get rid of the stigma which attaches to it of having tho highest fire loss ratio in the world. 'i'he old institute was called the Institute of New Zealand. He would suggest that the new body should bo called, the Wellington Institute, as there was at present a live institute in Auckland, and it was hoped to establish institutes in Christchurch and Duncdin. The aim of the institute should be to educate Hl2 young men, arouse the enthusiasm of the older men, and to have underwriting carried on better than it was to-day. Most of (ho.young men who were in the offices to-day were, he believed, merely scratching tho surface, lie moved:. "That the Insurance Institute of Xow Zealand be resuscitated." Mr. Didsbnry seconded the motion. He thought (hat the institute would be of great use to everyone concerned. The motion was carried unanimously. Thirty-ono members handed in their names in the room. Office-bearers were elected as under:— President, Mr. It. J. White; vice-presi-dents, Messrs. P. Mewter and D. A. Abercrombic; committee, Messrs. F. G. Cray, A. D. Cook, W. A. Tarton, G. Rriarley,' R. Disou. P. D. Leslie, J. I Stevenson, and W. A. Blair; hon. treasurer, Mr. C. M. Bowden; hon. secretary. Mr. F. Cray; hon. auditor, Mr. C. D 'Morpeth. It was decided to hold monthly' meCTinirs during the winter period. The now committee was instructed when considering the rules to take into consideration ths , matter of altering., thp. name of the institute to the Wellington Institute.