§ 40. Mr. PETOasked the President of the Board of Trade whether his attention has been drawn to the registration of a new company known as the Excess Values (Liverpool and London) War Risks Insurance Association, Limited; whether this company is to be regarded as part and parcel of the Government scheme of insurance of merchant vessels against war risks, or whether, seeing that it proposes to cover every description of marine loss or risk, it is a form of private enterprise of leading shipowners in connection with the Government scheme; and, if otherwise, will he state the exact reasons for the formation of this new company?
Mr. HARCOURTThe association referred to was formed with the full knowledge and consent of the Board of Trade for the purpose of insuring against war risks values in excess of those covered by the Government insurance scheme. It is not part of the Government scheme, but is worked in connection with it. The other War Risks Clubs have for a long time had arrangements for insuring these excess values on a mutual basis.