INSURANCE LAWS.

Dominion, Volume 6, Issue 1630, 23 December 1912, Page 5

INSURANCE LAWS.

■ ■ • •- [■■ ■ ;«-•■■- — COMMONWEALTH BILL INTRODUCED ■ ' '.) ■' ' ■ . STRINGENT '^PROVISIONS. By TeleeraDli—Press Associa/Uon—Copyright Melbourne, December 21. The Insurance Bill, which has been introduced in tho House, provides for the appointment of a> Commissioner who will be responsible for the administration of the 'Act, and who will eupply an annual report to the Minister. " ' . Insuranoe companies will be compelled to register and will receive a license. Life insurance companies, and other than life comD'anies, will have to make a deposit of .£20,000; life and other insurance combined, dEiOjOOO. A life insurance company miist in eaoh succeeding year deposit 310,000 until tho total reaches .£100,000; life and other insurance combined will deposit annually until the total reaches i 120,000. .'Stringent provisions are included for evasions in making'proper returns and non-forfeiture of policies, unreasonable or unusual premium* innocent omissions and auditing companies account. i BRITISH INSURANCE ACT. : GROSS INTIMIDATION ALLEGED. London, December 20. The National Practitioners' Association has circularised doctors asking whether the more worthy members would encourage the gross intimidation being exercised to prevent doctor? serving under the Insurance Act.