§ 21. Mr. Marquand
asked the President of the Board of Trade whether he will set up an independent inquiry into the methods used by insurance companies in assessing risks and calculating premiums, with a view to the introduce- 296W tion of legislation to ensure that they conform with public policy.
§ Sir C. Osborne
asked the President of the Board of Trade if he will give details of the representations he has received in recent years from the responsible insurance companies about the dangers inherent in the cut-price small-scale and recently established insurance concerns that are now going or are in danger of going bankrupt; why these representations were disregarded; and why he did not seek extra powers to investigate these matters.
§ Mr. Jay
It would not be proper for me to reveal details of the suggestions which I have received about the soundness of particular insurance companies. Inquiries made by the Board of these companies have been based partly on the suggestions.
I am seeking in the Companies Bill stronger powers of supervision over insurance companies.