FIRE INSURANCE.
TARANAKI FARMERS' ASSOCIATION. ANNUAL MEETING AT EbTITAM. ACCIDENT DEPARTMENT DECIDED ON. The annual meeting of the Taranaki Farmers' Mutual Fire Insurance Association was held at Eltham yesterday afternoon, when the chairman, Mr. J. T. Quin, presided over a fair attendance of members.
The annual report and balance-sheet were presented as follows:—The tenth annual report of your directors siiowa ti further improvement in the financial position of the association for the year just closed. The net premium income for the year amounted to £B7O His lOd, being £3l 3s 3d in excess of that of the previous year. The insurance liability at the close of the year under review (after allowing for reinsurance) amounted to £233,451, as against £150,033 at the close of the previous year, being' an increase of £73,813. This liability is classified as follows: 'Farm and nonhazardous risks, 072 policies, amounting to £230,414 H)s (making an average of approximately £237); dairy factory, 2 policies, £3OO (averaging £150);' reinsurances, 0 policies, £2737 (averaging about £450). The total policies number 780, bringing the general average to approximately £299, against that of the previous year, £220. Fire losses amounting to £145 occurred during the year. The liquid assets at the end of the financial year (after making provision for all general liabilities) amounted to £5947 7s Bd, being £393 12s 9d in advance of the previous year. The premium notes in force at the- close of the year under review amounted to £12,557 lis 2d, being an increase of £4339 7s 4d, making a total of general assets over general liabilities of £18,704 Is Bd. Your directors during the year appointed Mr. S. E. Corry as inspector and canvasser, hence the increase in management expenses. Accident business.—Under recent legislation power is now given to this association to insure its members against workers' compensation claims. A special meeting of members will be held immediately after the close of the annual meeting to consider, and, if desirable, adopt a resolution empowering the association to carry on that class of business.
The report was adopted, on the motion of the chairman, seconded by Mr. Maxwell.
After a very brief discussion, it was decided to open an accident insurance department. All the officers were re-elected, as follow:—Messrs. J. T. Quin (chairman), J. Best, C. J. Belcher, J. Christoffel, H. D. Forsyth, R. Lambie and E. Maxwell; secretary and treasurer, W. J. Tristram; auditor, Mr. E. Parrott.
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Taranaki Daily News, Volume LVII, Issue 276, 1 May 1915, Page 3
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403FIRE INSURANCE. Taranaki Daily News, Volume LVII, Issue 276, 1 May 1915, Page 3
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