MUTUAL FIRE INSURANCE.

Manawatu Times, Volume XXVII, Issue 7970, 6 February 1905, Page 3

MUTUAL FIRE INSURANCE.

Farmers' Mutuals.

A circular was read from Mr J. G. Wilson, chairman of the Wellington Provincial Executive, stating that before a company could be formed over the province, worth of insurance would have to be guaranteed. When that amount was procured, a warrant authorising the company to commence business, would be applied for. Insurers must Bign an application, giving particulars of their buildings, and the amount of the risk, which must not be more than two thirds of their value. Each application to be accompanied by a pietniuin note duly executed. The committee of each branch will be required to submit a report on proposed riskr. There was nothing to hinder anyone signing the agreement to insure bucause his present insurance may not have run out. In a further circular, the President stated the Associated Insurance Companies were going to have a fight for their position, as the Union anticipated, against the Farmers' Mutual and the Government Insurance. Companies by reducing their rates. This would mean that for a time anyone could get their insurance done by the companies at the same rate as the Mutuals. This was all tbe more reason for support to the Mutuals* by the farmers because if the "war of rates " reknits in defeat, the associated monopoly will make the farmers pay through the Dose if they are able to retain that monopoly. The Chairman urged the farmers to have a fair stand up fight against a monopoly which had been bleeding them for so long, and who, before they were in a position to fight, were offered very favourable terms to retain the farmer's business, but refused.

After a long discussion, during which several farmers offered to transfer their insurance to the proposed company, it was decided to instruct the collector and canvasser to obtain signatures to the application form for a warrant to establish the proposed company on a proper basis.