§ Mr. Hugh Jenkinsasked the President of the Board of Trade whether he will refer to the National Board for Prices and Incomes the action of the insurance companies which have simultaneously raised domestic fire insurance premiums by 2,300 per cent.
§ Mrs. Gwyneth Dunwoody:As the Monopolies Commission is already investigating the supply of fire insurance, an inquiry by the National Board for Prices and Incomes of the kind suggested by my hon. Friend does not seem necessary. In 1967 the then President agreed that it would be reasonable for insurers to adjust premiums of not more than £ 3 where they were satisfied that the 395W premiums did not adequately cover costs. The increase which I believe my hon. Friend has in mind appears to be of this character.