CITY COUNCIL INSURANCE.

New Zealand Herald, Volume XLVI, Issue 14150, 27 August 1909, Page 6

CITY COUNCIL INSURANCE.

QUOTATIONS ACCEPTED. Vxniors insurance companies recently quoted rates for the insurance against accidents of the City Council's staff. The quotation of the Royal Insurance Company (£537. 5-; Id) was the lowest, and was recommended for acceptance by the Finance Committee. The point was raised at the last meeting of the Council, however, that, if feasible, the local companies should obtain the business, seeing that they were paying rates. The Finance Committee, therefore, had tho matter referred back to them for further consideration. At last night's meeting of the Council this committee reported having received notification from the Royal Insurance Company that their quotation had been submitted in good faith, and that on its acceptance by the commit they had issued a cover note. The company also pointed out that they were largo ratepayers, and would stand by their quotation. The committee's report continued: "In'view of the fact that quotations were invited, and that the Royal Insurance Company's quotation was the lowest by £113 Ms 2d, it was resolved to adhere to the previous recommendation that the quotation of the Royal Insurance Company be accepted."

The Finance Committee further reported last night having accepted the quotation submitted by the South British and New Zealand Insurance Companies (the insurance to be divided as in previous years) for the insurance of the Council's property against fire. This quotation was a premium of £285 lis for the insurance of £106,939, subject to amendment of certain details.

Both clauses in the committee's report were adopted.