HC Deb 24 April 1928 vol 216 cc809-10
50. Mr. KELLY

asked the Financial Secretary to the Treasury whether any representations have been made to his department regarding industrial assurance companies, and the number of policies which terminate each year due to the holders being unable to continue payment of premium; and whether it is the intention of the Treasury to deal with the position?


I am not aware that any general representations on this subject have been made to the Treasury or to the Industrial Assurance Commissioners. As regards the second part of the Question, I would refer the hon. Member to the Answer given on the 14th March to a Question by the hon. Member for the Plaistow Division (Mr. W. Thorne).


In view of the hardship that has been created by the action of these companies, will the Government make some investigation?


No, Sir. Investigations were made, as the hon. Member will recollect, and the Act of 1923 provides that certain things shall happen after the 7th June. Perhaps the hon. Member will wait until after the 7th June, and then put down another question if necessary.


Has the hon. Gentleman read in the newspapers the very serious allegations that have been made against these industrial assurance companies, and will he not make an investigation into the matter?


An investigation was made, and I would ask the hon. Member also to wait till after the 7th June and see what happens.


Is the hon. Gentleman aware that these accusations have been made about companies which are working now, and, if these accusations be true, the companies will get away with a lot of money to which they are not entitled, while, on the other hand, if they are not true, the insurance companies are being maligned in a manner in which they ought not to be; and will he institute an investigation now as to what has transpired since the Act was passed?


I will study what the hon. Gentleman has said after the House has risen, and see what can be done.