MARINE INSURANCE
GUNARD LINE'S NEW VESSELS
AGREEMENT WITH BOARD OF TRADE.
(British Official Wireleu.) Pres* Asiooiation—By Telegraph—Copyright,
RUGBY, November 5. Tlig terms of the agreement between the Board of Trade and the Cun ai d Steamship Company Ltd. for the insurance of one, and possibly two. large passenger vessels of exceptional value which the company proposes to build are issued. The value of these vessels will, it is anticipated, be about £4,500,000 each, and uncertainty exists as to whether the normal insurance market will be able to absorb the whole amount of the insurance required. The effect of the agreement, if entered into, would be that the Government would undertake to provide insurance against both construction and marine risks in respect of the first vessel to be built by the company in so far as the ordinary insurance market is unable to do so. The company would bo required to exhaust the open market before calling on the Boatd of Trade to make up the deficiency. The agreement also provides for ti e insurance of the second vessel on simi lar terms, provided the Board of Trade is satisfied that her keel will bo laid within six years from the execution of the agreement.
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Bibliographic details
Evening Star, Issue 20635, 7 November 1930, Page 9
Word Count
204MARINE INSURANCE Evening Star, Issue 20635, 7 November 1930, Page 9
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