DRASTIC REFORMS URGED
SOCIETIES FOR. THE BENEFIT OF AGENTS. "RECKLESS EXTRAVAGANCE.” ByJTcleßraph-Prasa Association—Copyrlsh*. Imperial News Service. (Received March 18, 10.45 p.m.) LONDON, March 17. The report of the Departmental Committee on the business of industrial insurance companies and collecting societies has been issued. It makes a number of drastic rccommonaations. Tho report points out (that premiums on industrial policies in 1918 exceeded £25,000,000. Tho number of policies was 51,000,000. Tho report declares that tho groat majority of the policies aro effected to lapse within a short time, and tho control of organisation in the case of all largo societies had been secured by agmts. Therefore it argues that the societies arc conducted primarily in tho interests of the agents. The report asseverates that reckless extravagance is carried on under forms of law rendering 'tho Board of Trade helpless to give protection to the insuring public. Tho report urges immediate legislation proscribing reforms and increased control.
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Bibliographic details
New Zealand Times, Volume XLVI, Issue 10542, 19 March 1920, Page 6
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155DRASTIC REFORMS URGED New Zealand Times, Volume XLVI, Issue 10542, 19 March 1920, Page 6
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