§ 46. Mr. John Wellsasked the President of the Board of Trade at what date his Department was first aware that the Fire, Auto and Marine Insurance Company was in difficulties; and why no early action was taken to protect both policyholders and the public.
§ Mr. JayThe Board of Trade has been in constant touch with the company from the commencement of its business. Evidence justifying the Board in using its powers under the Insurance Companies Act, 1958, was not available until towards the end of June.
§ 53. Mr. Leadbitterasked the President of the Board of Trade what steps he has taken to examine the affairs of the Fire, Auto and Marine Insurance Company Limited; and if he will make a statement on the consequences of the winding-up of this company.
§ Mr. JayThe reasons for the failure of the company will be fully investigated by the Official Receiver if the court makes a winding-up order against the company.
The result of such an order would be the termination of the company's policies and the liquidation of its affairs.
§ 68. Mr. Goodhartasked the President of the Board of Trade on what dates his Department received requests to investigate the affairs of the Fire, Auto and Marine Insurance Company.
§ Mr. Oakesasked the President of the Board of Trade what representations have 232W been made to him under Section 14 of the Insurance Companies Act, 1958, during the last 12 months to investigate the affairs of insurance companies registered under that Act; when such representations were received; and what action he is taking.
§ Mr. DarlingNo such representations or requests have been made, though the Board's inquiries of the Fire, Auto and Marine Insurance Company Ltd., have been based in part on reports reaching them about it.