FARMERS’ INSURANCE

Waipa Post, Volume 43, Issue 3328, 28 July 1931, Page 4

FARMERS’ INSURANCE

KEEPING POLICIES ALIVE. CAREFUL CONSIDERATION NEEDED. A scheme is being evolved by the Auckland Executive of the Farmers’ Union to aid farmers who may have to allow their insurances to lapse for lack of finance.

Mr S. J. E. Closey, organiser of the scheme for the collection of produce for the needy of the city, mentioned this at a meeting in Auckland on Saturday. He said that many farmers themselves were hard up for ready cash, and in order to keep their insurances alive the executive proposes that the branches of the union should guarantee the payment of the premiums on farmers entering into satisfactory bonds. In connection with the proposal that the branches of the New Zealand Farmers’ Union should guarantee the premiums of their members in order to keep their insurance policies alive, a member of the Auckland Underwriters’ Association expressed the opinion that the scheme was contrary to the accepted practice of insui'ance companies. This was to conduct business on a strictly cash basis. The proposals of the Farmers’ Union would require careful consideration by the insurance companies and it was at present too early to give an opinion on the practicability of the scheme. It would be necessary for the proposal to be submitted in detail to the association before any definite view could be expressed.