§ Mr. BOTTOMLEYasked the Chancellor of the Exchequer whether conferences have taken place between himself and representatives of the Prudential Assurance Company, Limited, with reference to that company taking part in the administration of the National Insurance Bill; if so, whether he is aware that in several cases during the past few weeks actions have been brought against the company by holders of policies in its industrial insurance branch, claiming the return of premiums on the ground that the policies were obtained by fraud and forgery, and that the company has repaid such premiums together with the costs of the actions; whether he is aware that several other actions of a similar character have been brought successfully against the company in recent years, and that in one case the documents were impounded by the judge; and whether, in these circumstances, he will take steps to prevent the Prudential Assurance Company becoming one of the approved societies under the proposed Act?
Mr. McKINNON WOODMy right hon. Friend met in conference representatives of friendly societies and other bodies interested in the Bill, including a representative of the Prudential Assurance Company. As regards the allegations made in the second part of the question, he has no information beyond that supplied to him by the hon. Member. Certain conditions are laid down in the Bill with which it is necessary to comply in order to become an approved society; subject to these conditions it will be for the Insurance Commissioners to deal with individual applications for approval.