§ Mr. BOTTOMLEYasked 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. BUXTONThe returns required by the Assurance Companies Act of last year 516 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.