WAR RISKS ON CARGO.

Manawatu Standard, Volume LVIII, Issue 79, 2 March 1938, Page 8

WAR RISKS ON CARGO.

UNDERWRITERS’ LIMITATION. Per Press Association. WELLINGTON, March 2. Advice that the London Institute of Underwriters had arrived at an agreement to cover war risks only on waterborne cargo in future was received at last night's meeting of the Wellington Chamber of Commerce, when Mr Tubrey Schloss. director of a Wellington firm, forwarded a copy of a letter received from the Union Insurance Society of Canton, Ltd. From February 1, it was stated, the war cover would not attach to goods insured unless they were on board an overseas vessel and it was to cease when they were discharged overside from the vessel. Mr R. H. Nimmo said that as far as New Zealand was concerned the matter was not worth worrying about, but in the event of war that would be a different matter. He considered representations should be made to the Underwriters’ Association or to Lloyd’s to grant a cover to protect such goods if a cover were desired by importers. Mr Nimmp moved that the matter be referred to the Associated Chambers of Commerce for any action they might deem necessary, and this was agreed to.