Government Stocks (Fire Insurance).

Oral Answers to Questions — Food Supplies. – in the House of Commons on 18th February 1942.

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Photo of Mr Richard Acland Mr Richard Acland , Barnstaple

asked the Parliamentary Secretary to the Ministry of Food what has been the relation between the premiums paid by the Government and the claims received up to 31st December, 1941, under the arrangement whereby stocks under the control of the Ministry are insured against fire risks with insurance companies and Lloyds; and if any payments have been made for expenses other than those contained in the premiums, what relation do these bear to the claims received?

Major Lloyd George:

The approximate relationship between premiums and claims resulting from the insurance against fire risks on land of foodstuffs owned or controlled by the Ministry of Food during the period from the commencement of the scheme on the 1st April, 1940, to 31st December, 1941, has been that the claims have represented 87 per cent. of the premiums. This comparison takes account of the premiums payable and an estimate of the claims outstanding on 31st December, 1941. No payments have been made for expenses other than those contained in the premiums.