§ 9. Mr. FELLasked the Secretary to the Treasury the total amount of premiums received for insurance against damages by aircraft raids up to the latest date available; and if he has any information as to the percentage of buildings which may have been damaged have been insured?
§ The PRESIDENT of the BOARD of TRADE (Mr. Runciman)My right hon. Friend has asked me to answer this question. In view of the large number of fire insurance companies receiving premiums on account of the Government, I am afraid it would not be possible, even if it were desirable at this stage, to state the amount of premiums received. No information is yet available as to the percentage of the buildings damaged which were insured.
§ Mr. FELLWill the right hon. Gentleman be able to make a statement in regard to this insurance against air raids? The matter is one of intense interest, and great objection is taken to the action of this insurance.
§ Mr. RUNCIMANI do not know to what action the hon. Gentleman refers. It is impossible to give an account of the result of the insurance until the risks have been terminated.
§ Mr. HOGGEAs this insurance is a tax on the East Coast, will the profits made out of it be distributed as a bonus among the people insured?
§ Mr. RUNCIMANNo. It is a national scheme, and must be put on a national footing. The people on the East Coast obtain this insurance at 2s. or 3s. per £100, whereas they were paying as much as £l per £100 before the scheme.
§ Mr. FELLOught it not to be part of the national scheme that these people are insured at moderate rates.
§ Mr. RUNCIMANYes, it is. Otherwise everyone insured would have to pay a larger premium.