THE DAIRY INDUSTRY.
MARINE INSURANCE RISKS. WELLINGTON, June 4. Reference to a suggestion made that the Dairy Board devise a plan whereby the dairy industry could carry its own marine lisks, instead of insuring with outside organisations, as at present is contained in the annual report of the National Dairy Conference to be presented on June 27 next. The Dairy Board, it was stated, decided that the time was not opportune for such a scheme, the reasons which influenced its decision being:— The magnitude of the risk and possible loss if even only one steamer were a total mss. Dairy produce cargoes totalling £-50,000 in one ship are not uncommon. The very comprehensive nature of the board s. marine insurance contract and the low rates now being charged by the underwriters. Total yearly premiums are approximately £60,000, covering produce to a value of approximately £17,000,000. The inadvisability in the present position _of the industry of setting aside moneys to build up what must necessarily be a .very large insurance fund. The cost of setting up the expert organisation required to settle the numerous claims arising on practically every vessel arriving in London.
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Manawatu Standard, Volume LIV, Issue 157, 4 June 1934, Page 6
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192THE DAIRY INDUSTRY. Manawatu Standard, Volume LIV, Issue 157, 4 June 1934, Page 6
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