Dairy Companies’ insurance Scheme

Northern Advocate, 22 July 1938, Page 2

Dairy Companies’ insurance Scheme

A possible saving in insurance costs to the dairy industry was forecast by the chairman of directors of tiro Maungatapere Co-op. Dairy Company. Mr L. Reynolds, at tire annual meeting of the suppliers yesterday. "As advised by circular letter, tlris company has recently transferred all its insurance on factory buildings, dwellings and plant with Lloyds under tire Dairy Industry Agency Ltd., - ’ said Mr Reynolds. "This agency was brought into being by the almost unanimous vote at the National Dairy Conference at Hastings in Juno. 1936. ns the result of a report of the special committee, and was further approved at the next conference held in Hamilton in June, 1937. ‘■Under this scheme, a percentage of the premiums collected is paid over by the agency, and will be handed back to the factory in the form of fully paid-up shares in this insurance company. In this way it is considered that in time these rebates will create a fund sufficiently large to enable the agency to carry all dairy factories’ insurance at a large saving. “Dairy insurance has been before the industry for 20 years, but has always been more or less shelved.” added Mr Reynolds. “Now something definite has been done and considerable. benefits may be expected. At the first annual conference at New Plymouth last month, it was revealed that 65 factories had linked up with the' scheme, although .it has been in operation only six months.”