§ Mr. Biffenasked the President of the Board of Trade what notification he had of increases in the insurance premiums for foot-and-mouth disease; and how long it required his Department to assent to such proposed increases under the voluntary system of notification of increases in insurance premiums announced on 27th July, 1967.
§ Mr. Darling:None. I do not consider that insurers were under an obligation to notify me of the premium increases to which the hon. Member refers. Under arrangements made with insurers in 1966 my predecessor recognised that the nature of insurance required some flexibility in relating premiums to experience of claims and changes in the nature of risks and the insurers undertook to consult the Board of Trade in advance if they found it necessary to propose any overall increase in rates of premium relating to any separate class of insurance. Livestock insurance is not the subject of any agreement among a number of insurers as to the premiums to be charged.