asked the Minister for Industry and Commerce if he can furnish returns showing (a) an analysis of the returns made to his Department under the Fourth Schedule (D) of the Assurance Companies Act, 1909, in respect of Workmen's Compensation transactions during each of the last five years for which such returns are available; (b) the total premium income and interest income, respectively, of Insurance Companies arising out of Workmen's Compensation insurance in Saorstát Eireann; and (c) the disbursements of such companies in respect of (1) Payments under Policies; (2) Commission; (3) Expenses of Management; and (4) Profits, during each of the last five years for which returns have been furnished or are available.
CEISTEANNA—QUESTIONS. ORAL ANSWERS. - WORKMEN'S COMPENSATION TRANSACTIONS.
TOMAS MAC EOIN
As the reply contains a number of detailed figures I have furnished a copy to the Deputy, and would propose to circulate the reply with the Official Report:
Assurance Companies are under obligation to furnish returns to the Department of Industry and Commerce in respect of accounting periods only which began subsequent to 6th December, 1922. Returns for the year 1923 have been received from nearly all the Companies; those for 1924 are only coming in now.
It is not possible to state the total "interest income" arising out of Employers' Liability Insurance in An Saorstát, as the accounts do not in all cases show separately the dividends and interest attributable to the Employers' Liability funds.
The following are particulars in respect of the year 1923 in the form asked for in the question:—
|
Premiums (after deduction for re-insurance) |
£169,331 |
|
Payments under policies |
£82,494 |
|
Commissions |
£21,977 |
|
Expenses of management |
£45,006 |
|
Profits as carried to Profit and Loss Accounts |
£20,572 |
|
Losses as carried to Profit and Loss accounts |
£4,551 |
|
Outstanding claims at end of 1923 (4th Schedule) |
|
Claims which arose during 1923. |
£58,274 |
|
|
Do. |
1922 |
£10,794 |
|
Do. |
1921 |
£4,711 |
|
Do. |
1920 |
£2,143 |
|
Do. |
1919 |
— |
|
Do. |
1918 |
— |
|
Claims which arose prior to 1918 |
£1,149 |
|
|
Total |
£77,071 |
These figures relate to business carried on within An Saorstát. The figures are not exhaustive owing to the absence of returns from a few Companies.
May I ask the Minister, as I have had the reply, a question? The reply states that: "It it is not possible to state the total ‘interest income' arising out of Employers' Liability Insurance in An Saorstát as the accounts do not in all cases show separately the dividends and interest attributable to the Employers' Liability Funds." May I ask whether it is not a statutory obligation to furnish dividend and interest income separately? It appears some societies have done it, while it has not been made obligatory on others to do so. As that information is essential to a proper understanding of the returns, will the Minister require societies to give the information according to statutes?
I might, in reply, direct the Deputy's attention to the fact that the reply is incomplete in another respect. It says that returns have been received from nearly all the companies, and later, it says that these figures are not exhaustive owing to the absence of returns from a few companies. That defect and the defect to which the Deputy alluded, are due to the fact that there is some doubt as to our compulsory powers with regard to these returns. A case has been listed for this week, and once that case is decided we shall know exactly our position, and then we shall take steps to get the returns in the form in which the Deputy has asked for them.