DAIRY INSURANCE

Matamata Record, Volume XX, Issue 1855, 2 August 1937, Page 5

DAIRY INSURANCE

INDUSTRY’S MOVE ■ * Carrying Own Cover Reference to. the .new mutual insiir-' ance scheme within the dairying industry which • had . been already adopted by many companies was made by Mr. R. B. Gelston, secretary; of the Hinuera Dairy Company, at the annual meeting on Thursday. Mr. Gelston, a member of the Dominion committee, stated the scheme had been almost unanimously endorsed by the National Dairy Conference and 45 companies had already joined up. As a result a co-operative insurance company had been formed and duly registered, the first statutory meeting of which had been held in Hamilton. It was confidently expected that further strong support would be accorded very shortly. Mr. Gelston then gave some provisional figures and emphasised that under these conditions it was possible to build up a reserve, which would enable dairy companies to carry a large proportion of their own insurance without cost to the industry, while at the same time actually giving a reduction to the farmer and dairy companies. There was no quarrel with any company; it was a case of the dairy industry being sufficiently well-organised along cooperative lines to successfully operate a mutual insurance scheme.