N.I.M.U. INSURANCE

Taranaki Daily News, 25 September 1940, Page 10

N.I.M.U. INSURANCE

REVIEW OF YEAR'S WORK "In 1928 forty-two motorists paid premiums in advance. amounting to £249. In twelve years the N.I.M.U. has progressed rapidly, until to-day, with assets totalling £242,953 and a membership nearing the 40,000 mark, it carries the 'Third Party Compulsory 'insurance of one motorist in every three in the North Island," stated the chairman, Mr. B. L. Donne, at the annual general meeting of the N.I.M.U. Insurance Co. at Hawera on Monday night. Reductions in rates since the commencement of underwriting in August, 1928. had resulted in policy-holders receiving their comprehensive insurance at rates now less than onc-half of those ruling when the company began its operations. he continued. When it was promoted the company's main objects were to reduce the premium rates. to extend policy benefits and conditions, and to establish a claims service pn lines previously unknown in New Zealand and, asserted Mr. Donne, it had to be conceded that the company had achieved its objects. Although war conditions had obtained during ten of the twelve months under review, a steady growth in the number of policies in force was maintained, as at the end of the year the increase in the number of ■ policy-holders was 5389, he concluded.