§ 58 Mr. Rhys Daviesasked the President of the Board of Trade the amount of commission paid to head offices of insurance companies for handling business under the chattels scheme; and what amount of any such sum is being paid to the insurance agents for actually transacting this business with the clients?
§ Captain WaterhouseIt is not intended to pay remuneration on a commission basis to the companies and underwriters acting as agents of the Board of Trade under the insurance schemes instituted by Part II of the War Damage Act, 1941, or to intermediaries. As in the case of the commodity insurance scheme, the Board's agents have agreed to accept payment so calculated as to do no more than defray their expenses for the work done.
§ Mr. DaviesWhen that sum is paid over to the insurance companies and underwriters, will the Board of Trade see that a sum is paid to the agents who have actually transacted this business, some of whom are getting nothing at all?
§ Captain WaterhousePresumably that would be one of the points that our agents took into consideration when assessing the sum they ask us to pay.
§ Mr. DaviesIs it not for the Board of Trade to see that this money paid to the insurance companies should go to the people who do the job?
§ Captain WaterhouseThe Board of Trade have made the insurance companies their agents, and I think we must trust the insurance companies to pay their agents.