Colonel Arthur Evans
asked the Secretary of State for the Colonies whether he is aware that, although the annual premium for commodity war risks insurance in Jamaica has recently been reduced from £4 10s. per cent. to £3 per cent., it is still double the English rate; and whether, in view of the heavy burdens which have to be borne by those concerned in Jamaica and the fact that reserves have now been built up and conditions have been improved generally, he will take steps further to reduce the premium to the English insurance rate?
§ Colonel Stanley
The answer to the first part of the Question is in the affirmative. Jamaica adopted its scheme much later than any other Colony with the result that fully adequate reserves have not yet been built up. The premium was reduced less than four months after the inception of the scheme, a shorter period than has been customary elsewhere; and a further reduction will be considered in due course.