THE CUNARD LINE.
NEW PASSENGER VESSELS. PROBLEM OF INSURANCE. GOVERNMENT MAY ASSIST. (Official Wireless.) RUGBY, Nov. 5. The terms of the agreement between the Board of Trade and the Cunard Steamship Company, Limited, for the insurance of one, and possibly two, large passenger vessels of exceptional value which, the company .proposes to have built were issued to-day. The value of these vessels will be about £'4,500,000 each, and uncertainty exists as to whether the normal insurance market will be able to absorb the whole amount of the insurance required. The effect of the agreement, if entered into, would be that the Government would undertake to provide insurance against the construction and marine risks in respect of the first vessel to be built for the company in so far as the ordinary insurance market is unable to do so. The company would be required to exhaust the open market before calling upon the Board of Trade to make up the deficiency. The agreement also provides for the insurance of the second vessel on similar terms provided that the Board of Trade is satisfied that her keel will be laid down within six years from the execution of the agreement.
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Bibliographic details
Waikato Times, Volume 108, Issue 18170, 7 November 1930, Page 7
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198THE CUNARD LINE. Waikato Times, Volume 108, Issue 18170, 7 November 1930, Page 7
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