PROTECTING'THE PUBLIC

Evening Post, Volume CXVI, Issue 104, 30 October 1933, Page 11

PROTECTING'THE PUBLIC

INSURANCE IN AUSTRALIA

According to Mr. G. Bruce-Smith, general manager for Australia and Now Zealand fit the Australian Provincial Assurance Association,. Ltd., who arrived today by the Maungauui from Sydney oil a business visit, to tho Dominion, every effort is being made by tlie Life Officers.' Association of Australia, to which, his association is affiliated, and which consists of representatives of the leading life -insurance offices, to persuade the Federal Government to reintroduce a Bill passed some years ago by the Senate aiming at giving protection to the public against unsound life insurance institutions and bringing life insurances generally under its control. ' In an interview with a "Post" representative; Mr. Bruce-Smith said that a matter now engaging the minds of insurance companies was the measure passed by the Labour Government in Queensland dealing with the. ordinary and industrial assurance. They looked upon it as a very harsh measure, and they were trying to prevail upon the Federal Government to bring in its Bill, which would take precedence over the Queensland Act. All the States would come under the Federal Bill, whereas the Queensland Act was for Queensland alone. The Federal Bill was one promulgated by the Bruce-Page Governjmeut. It was passed by the Senate but was never introduced • into the House of Representatives. If the Bill were passed it would prevent tho Queensland measure from functioning. It would also make all insurance companies conform to a standard, and the public could be sure that the office into which they were paying their money would be able to meet the claims when they became due.