1908.] 



Insurance of Live Stock. 



573 



against loss of neat cattle, sheep, lambs, swine, horses, and 

 other animals by death from disease or otherwise. 



The mere fact of registry affords 110 guarantee of the solvency 

 of a society, but the rules which are necessary for the purpose 

 of complying with the Act do afford valuable help towards 

 good management in various ways and provide certain checks 

 which are wholly wanting in respect of unregistered bodies. 



It appears, however, that in England and Wales only 57 of 

 these insurance societies were registered under the Friendly 

 Societies Act on the 31st December, 1906 (the latest date for 

 which complete figures are available). These had a membership 

 of 4,819, or about 84 to each society. The receipts during the 

 year amounted to £2,596 and the payments to £2,150. The 

 total assets at the end of the year were £8,434, or about £148 

 for each society. 



Application for the registry of a cattle (including pigs, 

 horses, &c.) insurance society must be made on a special form 

 to be obtained from the Registrar of Friendly Societies, 28, 

 Abingdon Street, S.W.,- and must be accompanied by two 

 printed copies of the proposed rules. There is no fee for 

 registration. The Registrar has prepared a set of model rules 

 for the use of friendly societies, but these rules would need 

 to be suitably adapted to the circumstances of a cattle insurance 

 society. A copy of the rules actually adopted could be obtained 

 as an example from any registered society, as societies are 

 bound to supply copies to any person on demand on payment 

 of a sum not exceeding one shilling. 



Attention may be directed to the following points, which 

 should receive consideration in drawing up the rules of a 

 society whether registered or unregistered. 



Unlimited Liability. — In the case of registered societies 

 the liability of each member for the engagements of the Society 

 is unlimited, and this might lead to serious difficulties 

 if the Society were to undertake the insurance of animals, 

 such, for example, as valuable pedigree stock, to a greater 

 amount than its funds would justify. In practice, however, 

 such societies being understood only to undertake insurances 

 for small amounts, the risks incurred are not great, but it is 

 desirable that the rules should specify the maximum value 

 'which may be paid in any one case. 



