§ Mr. Hoyleasked the Secretary of State for Trade if he will take steps to introduce a code of conduct covering all banks, 746W insurance companies, brokers and agents with a financial penalty for unreasonably inducing a member of the public to cancel an existing policy in favour of a new one within six months of commencement of the first policy.
§ Mr. Clinton DavisNo. I am not convinced of the need for such a measure.
§ Mr. Hoyleasked the Secretary of State for Trade how many branch managers of clearing banks have been prosecuted for a breach of the Insurance Companies Act 1974, part III, section 63, which stipulates that any person who, by any dishonest concealment of material facts, induces or attempts to induce, another person to enter into, or offer to enter into, any contract of insurance with an insurance company shall be guilty of an offence and if he will make a statement.
§ Mr. Clinton DavisNone.