BOROUGH COUNCIL INSURANCE
3.!ie Lower Hutt Borough Council had Before it last night a motion of which notice had been given by Councillor Meldrum, that all the council's insurance business (now spread among fourteen firms) should bo placed with the State Office. The Finance Committee reported that it tad no recommendation to make.
Councillor Meldmm said he disagreed tyith the report, and moved that in future all insurances be placed with the .(State Office.
Cmmcillor Patrick seconded the motion pro forma, and said he entirely disagreed with Councillor Mcldrum's attitude. The State, even if it took the whole of the council's business, would reinsure with ;other companies.
The Mayor, replying to Councillor Meldrum's contention that the money would he kept in the Dominion, said he could assure the council that more money came into the Dominion in regard to insurance .than went out. In other words, fire insurance in New Zealand was a bad risk for the insurance companies. The motion was lost, only Councillor itteldrum. supporting it.
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Bibliographic details
Evening Post, Volume CXI, Issue 70, 24 March 1931, Page 16
Word Count
168BOROUGH COUNCIL INSURANCE Evening Post, Volume CXI, Issue 70, 24 March 1931, Page 16
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