INSURANCE COMPANIES.
! IMPORTANT JRECOMMENDATIONS. Received Apri1.21.11.15 p.m. MELBOURNE, April 21. "• The Insurance Commission's report suggests a uniform federal law to deal with icsurance companies founded on the general trend of the English Assurance Companies* Act. Such egislation should recognise that the | asssurance and annuity funds of these j Companies are essentially 2ri?st funds. The appointment of a Commonwealth Insurance Commissioner and regist ration of the companies with heavy penalties against ronregistration is also urged, foreign companies to have permanent resi dents in the Commonwealth as representatives, and all companies ,to furnish substantial deposits with the Federal Government, viz., exshing companies £20,000 the first year, and £IO,OOO each year till £IOO,OOO has been reached. Amongst a number of recommendations is one for protecting (he policy holders in one hundred companies. Another that no policy should be
voided on account of capital punishment or suicide, unless in the latter case it occurs witbm thirteen months from the date of the first premium.
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Wairarapa Age, Volume XXXII, Issue 10025, 22 April 1910, Page 5
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160INSURANCE COMPANIES. Wairarapa Age, Volume XXXII, Issue 10025, 22 April 1910, Page 5
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