§ 24. Mr. Benjamin Smithasked the President of the Board of Trade whether he has come to any conclusion regarding the recommendations of the committee on the insurance of ships; and whether steps are being taken to make these recommendations compulsory upon the industry?
Mr. StanleyI am unable at present to add to the reply given to the hon. Member on 27th July. As I then indicated, one of the recommendations of the committee was put into operation by the market. The other recommendation, namely, that the dual valuation clause should be adopted for all hull policies, is still the subject of discussion by the industry.
§ Mr. SmithCan the right hon. Gentleman give the House any indication as to when he proposes to carry out the second part of the recommendation?
Mr. StanleyIf the hon. Member means carry it out by legislation, I have explained previously that I only propose to do that if we fail to get an agreement in the industry to carry it out without legislation.
§ Mr. SmithIs the right hon. Gentlman taking any action which will ensure an agreement being reached?
Mr. StanleyYes, Sir; before the hon. Member put down his question I had addressed a reminder to the Chamber of Shipping that it was about time this matter was settled.