§ Mr. CohenTo ask the Chancellor of the Exchequer if he will list the main buildings, in which the Crown has an interest, for which there is neither buildings nor contents 19W insurance cover; what considerations underlay the decision not to take out insurance cover; and if he will make a statement.
§ Sir George YoungThe Government's long-standing policy on insurance is that decisions on whether to insure commercially should be made on value-for-money grounds. Across Government as a whole, the cost of paying premiums could be expected to exceed the value of claims met by insurance companies. Therefore, use of commercial insurance, including buildings or contents insurance cover, by Government Departments and other Crown bodies is confined to a very small number of cases where special considerations apply.