§ Mr. HARRISasked the President of the Board of Trade if he will state for each of the years 1925, 1926 and 1927 what is the amount of the deposits, if any, furnished in accordance with Schedule 8 B and C 2 (3) of the Assurance Companies Act, 1909, by Lloyd's underwriters as security for the 3245W due fulfilment of their fire and accident insurance contracts; the amount of the security furnished in the form of guarantees; whether any of the guarantees which may be furnished as an alternative to a deposit are given by persons who are not members of Lloyd's Underwriters' Association, and, if so, to what extent; and whether any alteration has been made in the terms of either the underwriters' agreement or trust deed during
Year. Deposits. Guarantees given by Members of Lloyd's. Guarantees given by persons other than Members of Lloyd's. £ £ 1925 … … … 1,923,520 11,664,242 Nil. 1926 … … … 2,059,675 11,003,092 Nil. 1927 … … … 2,230,151 10,376,679 Nil. The alterations made during the years 1925–26–27 in the underwriters' agreements were merely technical and were made for the purpose of securing uniformity of wording in the various forms in use, and I am sending a copy of each of the forms in question to the hon. Member with the amendments underlined in red ink. The Trust Deed approved by the Board of Trade under the Eighth Schedule (B) and (C) 2 (a) has not been altered during the period in question.
§ Mr. HARRISasked the President of the Board of Trade whether any statement is supplied to the Board of Trade of the number of Lloyd's underwriters who are unable to meet their engagements; if so, if any were in this position during the years 1925–26 and 1927; how many Lloyd's underwriters have complied with the requirement laid down in Schedule 8, paragraphs B and C (1) (b), of the Assurance Companies Act, as regards the furnishing to the Board of Trade of a statement showing the extent and character of the business effected by him; and how many Lloyd's underwriters during the same period, in lieu of complying with paragraph B (1) (a) and (b), have elected to comply with paragraphs B and C (2) of the schedule and supply to the Board of Trade an auditor's certificate in lieu of a full statement showing the extent and character of the business transacted?
3246Wthe three years 1925, 1926 and 1927, and, if so, what is the alteration?
§ Sir P. CUNLIFFE-LISTERThe amounts of the deposits and guarantees furnished by Lloyd's underwriters in accordance with the Eighth Schedule (B) and (C) 2 (b) as security for claims in connection with fire, accident and other non-marine insurance business were as follow:—
§ Sir P. CUNLIFFE-LISTERI am informed by the Committee of Lloyd's that no members of Lloyd's were in the position during the years 1925–26–27 of being unable to meet their engagements. No Lloyd's underwriters have furnished the Board of Trade with a statement showing the extent and character of the business effected by them under the Eighth Schedule (B) and (C) 1 (b) during the years 1925–26–27. In lieu of providing this statement, 1,186 underwriters in 1925, 1,210 underwriters in 1926 and 1,256 underwriters in 1927 elected to comply with the alternative requirements contained in the Eighth Schedule (B) and (C) 2, and furnished the Board with auditors' certificates.