Expired Policy
p. 37 · Read in the full issue
Insurance Co. Pays On Expired Policy
rHE Queensland Insurance Com pany—as stated in September ►IM—decided to treat the £1,500 nsurance policy on the Port Moresby jbrary Institute as having been re tewed in July—although actually it iad not been renewed.
As formerly reported, the Institute ommittee did not renew the policy /hen it became due because it was linking of increasing the amount to 5,000. Also it was short of money, lefore anything could be done, a arge part of the establishment was estroyed by fire.
Legally, the insurance Company /as not liable —but in view of the act that this insurance has been arried for many years, and in the musual circumstances, the Directors ecided to pay. What they have lost a cash, however, they will surely egain in public goodwill.