Sir L. Wardasked the President of the Board of Trade what is to be the future of the Private Chattels Insurance Scheme; and what is its present financial position.
§ Captain WaterhousePolicies under the Private Chattels Scheme have been extended without premium since 23rd November, 1944, and the issue of policies ceased on 8th May last. The outstanding claims are being dealt with as expeditiously as possible. The total payments and liabilities under the Scheme are estimated to amount to approximately £84,000,000, against which £16,000,000 1097W has been received by way of premium. Since every person was entitled to a certain amount of free cover, the premiums received relate only to supplementary cover desired in excess of that amount. It is estimated that premiums have covered payments for claims made under policies.