DAIRY INDUSTRY

Wanganui Chronicle, Volume 79, Issue 145, 20 June 1936, Page 10

DAIRY INDUSTRY

AN INSURANCE SCHEME ADOPTION BY CONFERENCE. [ Per Press Association. ] HASTINGS, June 18. The National Dairy Association conference adopted a mutual insurance scheme prepared by a special committee appointed at the conference last year. The following is a summary by the committee of the terms which would be offered to dairy companies and their suppliers for insurances effe ted direct with Lloyds Underwriters through the office of Bennie S. Cohen and Son (N.Z.) Ltd. acting as insurance brokers on behalf of the industry; — (I; Individual dairy companies would deal with the nearest branch or agency of Bennie S. Cohen and Son (A'.Z.; Ltd. We have an assurance from this firm that if the exigencies of the business offering should prove a sufficient inducement they will favourably consider the establishment of additional branches or agencies to give a more effective service to the inJuslndividual factories supporting the scheme would supply the brokers forthwith with particulars of their current insurances so that the necessary policies would be in readiness to oper-

poncies WOUIU ue 11l ic-auiucDD vj/ci ate when che current insurances ex- < pired. In this connection we have had explained to us the routine methods ‘ followed by Benpie 8. Cohen and Bon i (N.Z.) Ltd. in dealing with insurances i and those members of the committee who have been handling this class of work for many years were agreeably < surprised to observe the expeditious . manner in which the routine work was handled. In comparison, the present methods appear cumbersome and ex- [' pensive. This is an aspect which will make a special appeal to dairy com- 1 pany secretaries. (3) Proposals which have been sub- 1 mitted by Lloyds Underwriters through Messrs. Bennie S. Cohen and Bon : (N.Z.) Ltd. enable the committee to put forward definite recommendations as to the rates to be charged for fire insurance to factories and suppliers. We draw attention to the fact that in the table of rates we have made provision for a sum to be placed to reserve. This amount would be paid by the insurance brokers into a fund established in the names of trustees appointed by the industry.