§ 88. Mr. GROVESasked the President of the Board of Trade if he is aware that the Britannic Assurance Company is issuing lapse notices to policy-holders during the dispute with their agents, in one instance where only 2d. is owing on a policy; and what steps he proposes to take to protect the interests of these policy-holders who are subject to such hardships?
Mr. GRAHAMThe Industrial Assurance Commissioner has no knowledge of the matters alleged in the question. An Industrial Assurance Company is entitled to issue a forfeiture notice in accordance with the Industrial Assurance Act, 1923, to any person assured who is in default in paying a premium, and the Commissioner has no power to prevent it from doing so. The policy, however, cannot be forfeited for default in payment of the premium or premiums due till 28 clays after the service of the forfeiture notice.
Mr. PALMERDoes not my hon. Friend think that this is a case for the intervention of the Commissioner and that there are circumstances in which the ordinary rule might be reconsidered?
§ Mr. HANNONIs it not a fact that the Britannic Assurance Company gave notice to their inspectors that there were to be no notices of lapsed policies during the progress of the dispute?