§ 95. Major' HUNTasked the President of the Board of Trade whether he is aware hat the nineteen industrial insurance companies collected, mostly in weekly contributions, £18,539,998 in 1913, and only paid in claims £6,844,823; and that the same companies collected in 1914 £20,461,258, and only paid in claims £8,098,264; and as in 1914 many of these assurances must have been those of our, soldiers and sailors, and that the assurance companies must have taken a large amount of money out of the pockets of our soldiers and sailors as well as out of the pockets of other working people by the practice chiefly of lapsing policies, can he say what he proposes to do in the matter?
Mr. RUNCIMANI am unable to reconcile the figures given with the returns made by the industrial assurance companies. These returns show that in respect of industrial business in 1913 the companies received premiums amounting to £17,291,641 and paid in claims and surrenders £7,510,621. For the year 1914 the figures were respectively £17,982,777 and £8,098,264. With regard to the last part of the question, I would refer the hon. and gallant Gentleman to the answer given to his question on 1st November.
§ Major HUNTIs the right hon. Gentleman aware that while there is inspection of shops and food there is no inspection of industrial insurance companies, and that working people are quite helpless to enforce their claims? May I ask, further, whether he included in his figures the bonuses given to agents, and whether he is aware that my figures were given to me by an insurance expert who has been an insurance agent?
§ Mr. SPEAKERThe hon. Member is asking four or five questions.