INSURANCE COYS.’ 65,000 COLLECTORS FROM DOOR-TO-DOOR

Grey River Argus, 26 February 1949, Page 7

INSURANCE COYS.’ 65,000 COLLECTORS FROM DOOR-TO-DOOR

LONDON, Feb. 23

British industrial life assurance comnanes which specialise in door-to-door collection of premiums have decided to band together to resist any attempt by the Government to nationalise them. As notice of their intentions they have submitted a memorandum to the executive of the Labour Party which is at present con.sioering J’r«sh nationalisation projects.

The companies’ memorandum maintains that industrial life assurance is already adequately supervised by the Stati? through the Industrial Assurance Commissioner, that nationalisation might mean the cessation of door-to-door collection of premiums and the loss of bonuses, a blow to tlie encouragement of thrift, and that nationalisation of this particular type of insurance would have grave repercussions on other forms of British insurance business. Industrial lite assurance companies operating in Britain, of which the giant Prudential Assurance combine is the largest collect £100,000.000 a year in premiums from 10,000.000 households. They emoloy more than 65,000 collectors. A recent survey showed that nine out of 10 wageearning families in Britain have industrial life policies, paying an average premium of 4s 3d a week.