MUTUAL INSURANCE

Dominion, Volume 29, Issue 225, 19 June 1936, Page 12

MUTUAL INSURANCE

Scheme For Dairy Industry

REPORT OF COMMITTEE

Dominion Special Service

Hastings, June IS.

The establishment of a mutual insurance scheme for the dairy industry was recommended by a special committee which reported to the National Dairy Conference to-day. Tito committee, which was appointed by last year's conference at Palmerston North to report. on au insurance scheme for the industry, comprised Messrs. G. C. Dernier (chairman), N. Campbell (Awahuri), D. G. Begley (Heretaunga), R. B. Golston (Hinttcra; and A. J. Sinclair (Te Awamutu). The committee expressed the opinion that the industry had greater scope, and enjoyed better facilities than any other, for the successful launching ami operation of a scheme which would cover all insurable branches of its activities. The dairy industry in New Zealand possessed to a unique degree the opportunity for the establishment of a mutual insurance scheme. The committee had satisfied itself that there was no avenue open to the industry where it could share in its own insurance profits, or obtain control of its own insurance, except by the establishment of a mutual insurance scheme.

No mutual scheme could be launched at the present time without calling upon dairy companies and/or suppliers for cash contributions and guarantees. The report suggested a method by which the industry as a whole could commence to control immediately, to a certain extent, its insurance problems, and could share in the profits arising from such insurances. Jt also outlined the basis of a scheme whereby the industry, while sharing in its own insurance profits, could build up a reserve as the nucleus of its own mutual scheme. Through its insurance committee, the industry would be enabled, for the first time in its history, to have some voice in, and control of, its own insurances.

After a long discussion I lie report of the committee was adopted by the conference. A committee consisting of members of the committee which prepared the report, and three members to be selected by the executive of the National Dairy Association was appointed to take steps to bring the scheme into operation.