FARMERS' FIRE INSURANCE.

Dominion, Volume 6, Issue 1747, 12 May 1913, Page 8

FARMERS' FIRE INSURANCE.

! ir.-UYKE'S BAY MUTUAL ASSOCIATION. The report of (lie Jlawkc's Hay runners' Mutual l''ire Insurance Associalkm for tlie year ended March' 111 stales Unit the year's work has been satisfactory. Only one Itis.i, amounting to Ids. lias lieen sustained, while the expenses of working have been kept at a low figure, the aclual cost of working Ijt'iiisr about -'is. aid. per .£IOO of iiiMirnnee. 'Tim associa--sion Ims fixed deposits with the Hank of New Zealand ami Hie Hastings Tiuilding Society, anionntin.!! to .1:102 12s. (id., ami .£250 respectively {including the interest accrued). The progress of (lie association is clearly shown when it is noled (hat although the premiuni charged since ISIII7 lias only been ss. per cent, on first-class risks, a deljit balance of .£l7l in .March. 1907, has been converted into a credit b:\lanco of ,M 7.1 in March, Ifll.'l. 'J'lie total insurances held bv the association.amount to .£112,211. divided into Ml ri=ks, tho details being:—Members' insurances, .£llO,-MIJ reinsurance from' Wellington Mutual, .6180!) (ill 12.211): less reinsured in other companies; .£l(i,12;!; net liability of members, ,£OG,SIS. The Ijoard urge.? upon members llio necessity of upholding the mutual system and of endeavouring to got other fanners lo place their risks with the association. The low basis rate. ss. per cent., whicli is charged on first-class risks, should, it is urged, commend itself lo all fanners.