§ Rear - Admiral SUETERasked the Secretary of State for Air, whether he is yet in a position to make a further statement on the subject of insurance facilities for flying personnel; and whether his negotiations with the insurance offices have resulted in any lowering of the high rates of premium previously charged for cover against flying risks in time of peace?
§ Sir S. HOAREI am glad to be able to state that, thanks to the friendly cooperation of the Life Offices Association, several companies of high standing have already intimated their willingness to quote rates of premium which represent a very substantial reduction on the rates previously quoted. For example, whereas hitherto an officer of the rank of squadron leader seeking cover against peace-time flying risks has, under the terms offered by many companies, been required to pay an additional premium of as much as five guineas per cent., annually on the sum insured, several companies now offer (he same benefits in1650W return for an additional payment of only two guineas per cent. The additional premium payable has thus been reduced by more than half. Further, this reduced additional premium is payable for five years only instead of over the whole period for which cover is desired, and once these five annual payments have been completed, the officer is fully insured against flying risks without any further additional payment whatsoever. I have every hope that other companies will very shortly be prepared also to offer substantially reduced terms. I am taking special steps to bring the greatly improved insurance facilities thus secured to the notice of all serving officers.