King's Lynn Mutual Plate Glass Insurance Company Limited
- c 1940-4 May 1982 (Creation)
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Name of creator
King's Lynn Mutual Plate Glass Insurance Company; 1881-1982; insurance company; King's Lynn, Norfolk
Founded in 1881 and limited by guarantee. The company formed to meet the needs of private family businesses in King's Lynn and was operated by non paid officials. Directors were elected by the policy holders. The first annual general meeting was held in 1902. The company declined in the 1970s as previously family owned shops were being taken over by large chainstores who had national cover for their windows through a central broker therefore ceased taking premiums with the King's Lynn Mutal Plate Glass Insurance Company. Additionally, steep inflation rises in the 1970s raised the cost of plate gloass four-fold. By 31 December 1981 there were only 30 members and policy holders and the income from the annual premiums totalled £550. Due to heavy claims and insufficient assests the committee decided to cease trading and wind the company up. Wound up in 1982.
Immediate source of acquisition or transfer
Received by the Norfolk Record Office on 11 November 2005(ACC 2005/248), list completed January 2006(LW).
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Contains corporate records including minutes, annual reports, liquidation papers and general correspondence; financial records; customer records including proposal forms and premium payments, and records of the Federation of Plate Glass Insurance Societies.
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Created 22/11/2005 by Drolw. Modified 05/03/2019 by Catherine.Collins.