INSURANCE FACULTY

Taranaki Daily News, 21 February 1935, Page 7

INSURANCE FACULTY

BRANCH FORMED IN TARANAKI. SETTING STANDARD OF PRACTICE. A Taranaki branch of the New Zealand Faculty of Insurance was formed last night at a meeting of men connected with insurance at New Plymouth. Mr. C. J. E. Smith, who was appointed chairman of the meeting, introduced Messrs. L. Monkman, F.C.1.1., F.A.1.1., and’ R. H. Rowland, A.C.1.1., Wellington.

The New Zealand Faculty was affiliated with the Chartered Insurance Institute of Great Britain and the Australian Insurance Institute, said Mr. Monkman. Its main plank was the education of members in insurance matters. It had adopted . the Australian examinations rather than the British because Australian conditions approximated more closely to those pertaining in New Zealand. The examinations were especially valuable to a town like New Plymouth, for they covered branches of insurance work not met with in smaller offices and experience at New Plymouth was limited. The student member of the faculty had the advantage of advice in regard to suitable text books and lectures given by the faculty. Although the New Zealand faculty hoped to have its own exanfiinations these could not be expected for some time as the present small number of students made it impossible. Mr. Rowland stressed the value to a young man of examinations. In these days countries were relatively close and clerks were transferred to New Zealand from as far afield as Canada. To Have a hope of promotion a man needed to conform to an international standard and the faculty supplied that standard. The faculty could hot actually pass the students’ examinations, only hard work could do that, but it could advise them and show them the way to set about their work.

The objects of the faculty were the promotion of good feeling among members, the dissemination of professional knowledge, the inculcation of sound insurance practice by the reading of papers, the preparation of students for examination and the granting of degrees, said Mr. Smith, summing up the speakers’ remarks preparatory to asking the meeting if it wished to form a Taranaki branch of the faculty.

The meeting was hardly representative enough to warrant the definite formation of a branch, said Mr. S. 0. Jones, and he thought they should wait for a more fully attended meeting before taking action. Mr. R. W. Brown said that if no action was taken interest would be lost and the object of the meeting defeated. The meeting decided to form a branch. A committee was elected as follows: Messrs. C. Denny Brown, R. W. Brown, A. S. Clark. S. Russell and C. J. E. Smith. Mr. D. le C. Morgan was appointed honorary auditor.

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