HC Deb 13 July 1915 vol 73 c750

It is proposed that the State should enter into an agreement with any approved fire insurance company, authorising the company to issue policies on behalf of the State and to collect the premiums thereon.

The principle of the arrangement is that persons insured against fire in an approved company can take out through the same company a policy against aircraft and bombardment. A remuneration of 10 per cent, on the gross premiums would be paid to the companies to cover all expenses connected with the issue of the policies, the collection of premiums, and the expenses of the initial proceedings in connection with the adjustment of claims, with the exception of the assessors' fees, which would be paid by the Government. All claims to be finally settled and paid in cash by the State Insurance Office within thirty days of the adjustment of the claim. The accounts between the Government and the companies to be settled monthly. Any company which elects to act as agents for the Government may not accept risks on its own account.