§ 55. Lieutenant-Colonel W. GUINNESSasked the Prime Minister whether any steps are contemplated with a view to compelling insurance companies to reinstate on equitable terms all insurance policies which had been in existence for five years previous to the outbreak of war and which have since lapsed owing to the inability of soldiers, sailors, and their dependants to meet the premiums?
§ The PARLIAMENTARY SECRETARY to the BOARD of TRADE (Mr. Bridgeman)The Prime Minister has asked me to answer this question. I am not aware of any application having been made to the Court to lapse a policy to which the provisions of the Courts (Emergency Powers) Act, 1914, apply. As regards insurance policies, which do not fall within the provisions of that Act, but have been in existence for a period of five years, and upon which the premiums have been paid, it is the general practice of insurance companies to allow a surrender value in respect of the premiums paid or grant a fully paid up policy on receiving an application from the policy holder.
§ Lieutenant-Colonel W. GUINNESSIs there any power to compel companies to give that facility in the event of their refusing it?
§ Mr. BRIDGEMANI am not quite sure, but I will make inquiry and let my hon. Friend know.