Mr. KENNEDY JONESasked the Chancellor of the Exchequer what surplus moneys resulting from aircraft insurance are in the hands of the various insurance companies who, on behalf of the Government, effected aircraft insurance; whether such surplus moneys exceed seven millions sterling; and what are the intentions of the Government respecting such surplus?
§ Mr. BRIDGEMANMy right hon. Friend has asked me to answer this question. The moneys resulting from aircraft insurance in the hands of the various insurance companies who, on behalf of the Government, effected aircraft insurance, are purely nominal, as they have been regularly paid over to the Government in monthly accounts in accordance with agreement, the terms of which are stated in Schedule III. of Command Paper 7997. The excess of premium over payments, which amounts to over ten millions, has, of course, gone into the National Exchequer.
§ Sir HERBERT NIELDasked the Secretary to the Treasury if he will state the aggregate sum received for premiums on Government insurances against damage by hostile aircraft or bombardment which were current at the date of the signing of the Armistice; what portion of this sum represented the unexpired periods of insurance; when the risk ceased to 1393W attach; and whether the Government propose to repay to the insurers the proportion of premiums received by them in respect of obligations which had ceased to exist, and in particular on policies which had upwards of six months to run when the risk terminated?
§ Mr. BRIDGEMANMy hon. Friend has asked me to answer this question.
The War Risks Insurance Office are not in a position to supply the information asked for in the first and second parts of the question, and the various approved companies could not readily furnish the information in view of the dispersal of the extra staffs employed by them for aircraft insurance business. The risk has not ceased to attach with the signing of the Armistice, aircraft policies still in force covering the risk of damage by aircraft of the Royal Air Force, and aircraft and bombardment policies covering, in addition, the risk of damage by the explosion of mines which drift on the coast. As regards the last part of the question, I would refer my hon. Friend to the answer given to the hon. Member for Dartford on the 18th instant.