HC Deb 17 March 1910 vol 15 cc515-6
Mr. BOTTOMLEY

asked the President of the Board of Trade whether he was aware of the sums of money which were annually forfeited by policy-holders in industrial assurance companies and societies owing to unemployment and other causes, and whether he would consider the question of introducing legislation to compel such companies and societies to make an annual return showing the amounts so forfeited?

Mr. BUXTON

The returns required by the Assurance Companies Act of last year include an annual return of the total amount paid by each assurance company for policies surrendered, and the valuation return (which is made quinquennially) requires the conditions to be set out under which free or paid-up policies are granted on the surrender of existing policies. Both these requirements are new, and I should not propose to introduce legislation further amending the law of life assurance until the law of last year has had a fair trial.