§ Mr. Carterasked the Secretary of State for Trade and Industry (1) if he will list in the OFFICIAL REPORT those insurance companies which have applied to him to raise their premiums, and if he will categorise them by name, field of activity and percentage increase requested;
(2) if Guardian Assurance and Norwich Union Assurance have submitted to him requests to raise motor insurance premiums; when he will reply; and in what terms:
(3) if he has received a request from General Accident Motor Insurance Company to raise its premiums.
§ Sir G. HoweA number of applications have been submitted. It would not be appropriate for me to give details.
§ Mr. Carterasked the Secretary of State for Trade and Industry if all motor insurance companies have submitted their latest and required annual accounts; and if he will name those companies which are in default of this requirement of the Companies Act.
§ Sir G. Howe1 assume the hon. Member is referring to the requirement of the Insurance Companies Acts. The only defaulters are a number of overseas registered companies which we recognise are having difficulty in submitting certain information. The Department is in touch with them and I see no advantage in publishing their names at present. Returns from individual companies are available for inspection at Companies House.
§ Mr. Carterasked the Secretary of State for Trade and Industry how many motor insurance companies are at present under investigation by his Department.
§ Sir G. HoweNone under the provisions of Sections 164 and 165 of the Companies Act 1948.
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§ Mr. Carterasked the Secretary of State for Trade and Industry what action he intends to take prior to the enactment of the Insurance Bill to protect the interests of policyholders where it is apparent that a motor insurance company is in economic difficulty.
§ Sir G. HoweI shall continue to use my existing powers under the Insurance Companies Acts 1958 to 1967.
§ Mr. Carterasked the Secretary of State for Trade and Industry if he will list in the OFFICIAL REPORT the latest number of motor insurance companies which have ceased trading since the collapse of the Vehicle and General Company.
§ Sir G. HoweThere are no further companies to be added to the list given to the hon. Member on 30th January 1973.—[Vol. 849, c.350.]
§ Mr. Carterasked the Secretary of State for Trade and Industry if he will refer to the Price Commission for investigation the general question of motor insurance premiums.
§ Sir G. HoweI do not consider that this would be appropriate.
§ Mr. Carterasked the Secretary of State for Trade and Industry what was the average cost of third party and fully comprehensive motor insurance policies in June 1970; and what they are now.
§ Sir G. HoweThis information is not available.