INSURANCE RISKS

Wanganui Chronicle, Volume 79, Issue 106, 6 May 1936, Page 6

INSURANCE RISKS

CITY COUNCIL’S POLICY COMPANIES EXPRESS CONCERN Agents of insurance companies operating in Wanganui have expressed concern at the intention of the City Council to carry its own risks in the future. In a letter read to the council last night the agents pointed out that the living of 45 full-time and 27 part-time employees was being jeopardised. “Ou careful investigation,” the writers stated, “it is found that various agents contribute to the council £2012 in annual rates directly affected by their insurance business, quite apart from the large amount found by them as city ratepayers.” The letter was merely received and will be considered when the question of insurance is being considered. Later in the meeting, the council deliberated on the question of compulsory third party risk insurance, which it is compelled by law to place with a company or department outside itself. It is the present policy of the council to ballot for the company which holds the policy, the understanding be ing that the risk is divided among the other insurance operatives. A motion to let matters stand was moved by Cr. A. E. Halligan and secondod by Cr. J. D. Crowley, An, amendment to hand the risk to tho btate Insurance Department with instructions not to distribute it was moved by Cr. J. Robertson and seconded by Cr. J. J. Scott. The amendment was lost, those supporting it being the Mayor, Crs. Cotterilj, Scott and Robertson.