§ 16. Mr. Benjamin Smith
asked the President of the Board of Trade whether any action has been taken to implement the report of the Committee on the Insurance of Ships; and whether it is proposed to introduce the legislation recommended by the committee?
In accordance with the recommendation of the committee, the question of adopting the dual valuation Clause in respect of insurances of British ships is being considered by the industry. The second recommendation, that the amount permitted to be insured in respect of such matters as freight, excess values and disbursements should be limited, has already been put into effect by the market. Accordingly, I hope that legislation will not be necessary.
There is some misunderstanding. The Committee have reported, and what we are waiting for now is to see the result of the attempts of the industry to put the recommendations into force on a voluntary basis. If those attempts fail, I shall have to reconsider the matter.