§ Bill read 3a [according to order.]
§ EARL RUSSELL moved to amend Section (1) of Clause 16—which provides that "the insurable value, in the case of a steamship, includes also the machinery, boilers," etc.—by the insertion, after "steamship," of the words "or every vessel propelled by mechanical power." He hoped the noble and learned Lord on the Woolsack would agree that in a Bill which was intended to codify the law with regard to marine insurance, every case should be provided for. Electric launches and launches driven by petrol were becoming more greatly used every day. There was, for instance, to be a race between petrol launches at Cork on the occasion of the Gordon-Bennett race, and, of course, these would be valuable boats with exceedingly valuable machinery which could properly form the subject of marine insurance. He hoped the noble and learned Lord, with a view to completeness, would accept the words he had moved.
§
Amendment moved—
In Clause 16, line 28, after 'steamship' to insert 'or other vessel propelled by mechanical power.'"—(Earl Russell.)
§ THE LORD CHANCELLOR (The Earl of HALSBURY)I am afraid I cannot accept the noble Earl's Amendment. This Bill has been drafted by people who know thoroughly well what they are dealing with. I should despair of attempting to form any complete description of what should be the policy of marine insurance in respect of this particular mode of risk. I can assure the noble Earl that those who take a deep interest in this Bill would be very reluctant indeed to accept this Amendment. I do not know what the 281 future may bring forth with respect to such matters, but, at all events, if there is a development of new motive power, and the risks can be properly calculated by those who effect marine insurance, it must be done by persons who have contemplated all the risks that may arise. I am not disposed to put into a Bill that has been before the trade for five years an experimental clause, and one which might cause considerable embarrassment.
§ On Question, Amendment negatived.
§ Bill read 3a, and passed, and sent to the Commons.