CITY'S FIRE RISK,

Dominion, Volume 6, Issue 1784, 24 June 1913, Page 4

CITY'S FIRE RISK,

THREE MONTHS' COVER OBTAINED. ' Arrangements were completed on. Saturn day for tho insurance against firo for n period of three months of all tho properties of the Wellington City Corporalion. This action has beon t-akeji in accordoneo with tho resolution adopted byi tlio council on l'dday. . "That tho council obtain n, cover for threo mouths from some company. ' and that, in tho meantime, tho Town Clerk draw up ft sclicdulo pipvidiug for tlio deletion of tho average clauso and other warranties now imposed, and that tenders bo invited for tlio insurance."

Th-fe policy under which tho risks arfl hold at present expired yesterday, and in view of this a firm of inswraueo, brokers, claiming to be backed by underwriters associated with Lloyd's, tendered*. It was not deemed advisablo to accept the tender until mono was known about the new tenderers, hence tho resolution to obtain cover for tlM'co months, and to call for tenders anew. Tho three montlis* risk lias been accepted by the Standard Insurance Company at tho old rates, wider the usual arrangement (lint thoy by reinsurances apportion tlio risk 'among all tho other oomjianies, and tlio average clause lias been deleted from tlio policy. In the meantime tho Town Clerk has in course of preparation tlie schvdulo under which' tenders mil,bo invited, and very probably tenders will ho called during tlio present week.