LIFE ASSURANCE.

Wairarapa Daily Times, Volume XII, Issue 3988, 14 December 1891, Page 2

LIFE ASSURANCE.

We have been requested to publish the following Joint' Agreement -bei tween the Life Assurance Offices of Australasia:— We, the undersigned Chief Executors of the Australasian ■ Assuranoe Societies, having regard to the fact that the status of our representatives throughout the Colony owing to the introduction on the part of others of practices calculated to bring the whole system of Life Assurance into disrepute, have jointly agreed as follows :—l. That the praotiee of «' Twisting Policies," i.e., inducing persons already assured to, 'surreridffly; {; or those who have been accepted to refrain from completing their proposals, with a view of persuading them to join another office, ia striotiy contrary to the interests of honest management and will be regarded as disqualifying any agent foT further - ; employment. 2. The issue of State-. - ments by way ot comparison respefjK' mg rival Institutions will not be w*i lowed. Our agents will be to issue any comparisons or printed or written literature of any kind, except such as is specially authorised y ourselves, and for which we are prepared to be responsible. The issue of anonymous Circulars or Pamphlet* ' is therefore striotiy forbiojten. 8. Engaging Agents or Canvassert Vhile they are still in the employ of another Office is contrary to ordinary honor-, able business etiquette, and leads to unsuccessful Agents obtain**, ing Advances from several Offices in succession, with no profit to any, and with injury to the cause of their contemporaries in. Life_Aj3««ance.,.■, ; 1. Agents who have been found guilty ofdefraudingany office, through : : the introduction of bad lives by concealment of faots, or misappnynation of moneys, or leaving an office while in its debt, shall bo at once reported to all the others. 5. The practice of giving Direct Commission or ■ Rebate on Premiums to the Assured themselves, is contrary to all sound rules of Life Assurance management,. , - and we agree to every means iu pup pqwer'any diw?|W of commission or brokerage between* the agents and the assured. In witness whereof, we have bereanto set our hands, this twenty-first day of ' November, ono thousand eight hundred\and ninety. For the Australian Mutual Provident Society, Richard Teeco, general manager and aotuaty; For ire Mutual Life Association of Australasia, J. C. Remington.gene- . ral meagerj<For the Colonial-. I Mutual i Life Aeeurauce Society,

Limited, J. Jagues Martin, managing director j For the Mutual Assurance Society of Victoria, Limited, John B. Gillisbn, actuary and general manager ; For the Australian Widow's Fund Life Assurance Society, Limited, John secretary; For the New Zealand Government Life In-surance--Department, Josepbus H. Richardson, Commissioner, 12/3/91.