COMMONWEALTH INSURANCE
ROYAL COMMISSION'S REPOIIT.
[Press Association— Copyright.]
• (Received April'2l, U-15 P:f-> v Melbourne, April 21. The Insurance' Commission's report 'suggests, a uniform federal law for insurance companies, founded on tn© general trend of the English Assurance Companies Act. Such legislation should recognise that the assurance, and annuity funds of the companies are essentially trust funds. The report urges the appointment of a Commonwealth Insurance Commissioner, and the registration _ of companies, with heavy penalties against non-registration ; foreign .companies to have permanent residents in tho Commonwealth as representatives; and all companies to furnish substantial deposits with the Federal Government. . Amongst a number of recommendations for- protecting policy holders is one to the effect that no policy should be voided on account of the capital punishment or suicide of the holder, unless in the latter case it is within thirteen months of the lato cf the first premium. .. ••.... \ •
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https://paperspast.natlib.govt.nz/newspapers/TC19100422.2.24.6
Bibliographic details
Colonist, Volume LII, Issue 12774, 22 April 1910, Page 3
Word Count
146COMMONWEALTH INSURANCE Colonist, Volume LII, Issue 12774, 22 April 1910, Page 3
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