§ Mr. Greville Jannerasked the Secretary of State for Trade and Industry whether in view of the delay of the British Insurance Association in complying with its expressed undertaking to set up a 301W fund to compensate injured persons who would otherwise receive no compensation, he will now introduce legislation to prevent any recurrence of situations such as that created by the insolvency of a member company of that Association.
§ Mr. John DaviesAs part of the review of the controls applicable to insurance companies I am considering the question of compensation for those affected by motor insurance company failures.
§ Mr. Greville Jannerasked the Secretary of State for Trade and Industry to what extent the British Insurance Association has redeemed its undertakings to him regarding the setting up of a fund arising from the insolvency of the Vehicle and General Insurance Company ; and what steps he has taken and what steps he proposes to take to achieve the speedy implementation thereof, and the avoidance of further suffering by innocent passengers.
§ Mr. John DaviesAs I informed the hon. Member on 28th June I understand that the B.I.A. is well on the way to overcoming the legal problems involved in setting up the special fund.—[Vol. 820, c. 17–8.]