Insurance phased out
29th November 1980, Page 21
29th November 1980
Page 21
Page 21, 29th November 1980
— Insurance phased out
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OVERSEAS group members attending the British Association of Removers autumn conference earlier this month unanimously voted that the Advance Payment Guarantee Scheme, due to be renewed in December 1981, should be phased out.
The scheme has been going for two years, but there has not been one claim. The reason given for this is that companies wanting to join were well vetted first and only allowed to take part if their funds or capital assets removed the chance of insolvency.
Delegates then voted that the BAR overseas group explore the possibilities of alternative schemes, but those experienced in removals and insurance do not consider it is generally possible to insure against insolvency.