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On 11 December 1908 the Fire Offices' Committee resolved to set up a sub-committee to report on whether it was desirable for offices to arrive at an agreement with reference to insurances against consequential loss by fire. The sub-committee's proposal to set up the Consequential Loss Committee was approved by the Fire Offices' Committee on 14 May 1909. The new committee's first meeting was held on 28 May 1909. Its object was to rate the premiums to be applied to insurances against consequential loss by fire and to administer the Consequential Loss Tariff. The Consequential Loss Committee was managed and administered by the Fire Offices' Committee and based at its offices (at 65-66 Watling Street from 1909 to 1958, at 107 Cheapside from 1958 to 1962, and at Aldermary House, Queen Street from 1962 to 1985).