Insurance Warning
Page 11
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WITH the winding up of the First " General Assurance and Guarantee Co. Ltd. insurance concern, the Order for which took effect last Monday, July 15, all motor insurance policies issued by that company became ineffective from that date. Claims by policy holders arising out of accidents occurring after that date will not be recoverable from the company. The Minister of Transport has drawn the attention of such policy holders to the fact -that from July 15 they are no longer insured against third party risks as required by the Road Traffic Act.
1960.
The Minister also points out that if , a winding up petition in respect of the American Military (International) Insurance Association, due •to he heard on July 22, is granted, holders of policies with this company will be similarly affected.
£1,500 to Get its
Confiscated Lorries Back
A CUMBERLAND haulage firm had I-1 to pay £1,500 for the return of its confiscated lorries after re-fuelling them with duty-free diesel Oil. A Cockermouth Court was told this on Monday when the firm, John Stamper-Ltd. of Dearham, Maryport, was . fined £250 for "a Systematic fraud that meant considerable commercial advantage over competitors ".
The company admitted using the dutyfree diesel oil at 2s. 6d. a gallon in five of its 18 goods vehicles, instead of dutypaid oil at 4s. 4d, a gallon.
Mr. W. S. Hill, prosecuting for the Inland Revenue, said that by right the confiscated vehicles could have been retained, Five were confiscated after the offences came to light. It was systematic fraud, he alleged.
Both the firm and managing director. Richard Stamper, of Woodside Farm, Dearham, were represented by Mr. T. H. Campbell-Wardlaw. He said that the offences were caused by serious carelessness and not fraud.
During 1962 the firm paid £11,557 for 60,960 gallons of duty-paid oil. There had been no wholesale running of the goods vehicles at the lower rate.
The oil had been inadvertently taken from a pump that supplied oil legitimately at the lower rate for farm tractors.