Members may not be aware that the Company insures through the Livery Companies' Mutual Limited which is a mutual company of all the City of London Livery Companies with Halls and some other institutions such as the Royal Society and some London clubs. It is a great system as the premia are very competitive and all members receive quite handsome dividends in years when claims are low.
The 'Mutual' has been most helpful to us in managing the highly complex claim relating to the fire we had in the Hall last year and have paid every element of the claim that we made without any quibbling or hassle.
Of course I have taken some ribbing from my fellow Clerks over the past twelve months that the fire here at Stationers' Hall will have messed up our dividend for 2010/11 and so I was delighted to read the following in the recently published annual report of the 'Mutual'.
"In my statement last year I made reference to the fire at Stationers' Hall in June 2010. The cleaning, repair and restoration works lasted for just over twelve months with the final stages being completed, on schedule, during the Hall's summer recess this year. The restoration has been widely praised, not least by English Heritage, and there was remarkably little disruption to the Livery and commercial activities of the Company. Furthermore the claim has been settled well within our initial estimates. Claims of this type are mercifully rare, but when they do occur it is rewarding to see how the Mutual and the Member working together can produce a successful outcome."
I hope that you are as pleased as I am that this dreadful fire has ended on a note of glory for the Stationers' Company and we can hold our heads up high when we meet colleagues from other Livery Companies!