I beg to move the resolution which appears in my name:—
"That having regard to the large sums of money paid by Irish citizens as premiums for the insurance of their property from loss by fire, riot, or civil commotion, the liability to pay for which is, in consideration of these premiums, assumed by insurance companies and underwriters, but which liability it is now endeavoured to place on the rates,
"It is in the opinion of the Seanad desirable, and they would urge the Government to introduce legislation, under which insurance companies or underwriters who (a) repudiate the liabilities they have assumed, or (b) are unwilling to abide by the decisions of the Free State Courts, shall be precluded from carrying on business in Saorstát Eireann."
I have ventured to put down the resolution because it has become obvious lately that a great many insurance companies, underwriters, and persons of that sort have been availing themselves of the state of affairs which has unfortunately prevailed in this country to enable them to evade the obligations which they have undoubtedly undertaken, and for which they have been receiving very large sums in premiums. What this in the gross would amount to it would be impossible to say, but when you take into consideration the fact that practically all buildings in Ireland are insured, and furniture and things of that sort, one must appreciate that it would be a very large amount. Most of the policies include clauses protecting the insured against loss arising from arson, or incendiarism, but when these losses have arisen lately, insurance companies have availed themselves of the state of affairs to repudiate their own liabilities, and to refer the people to the legislation which exists here for recovering damages for malicious injuries.
That is undoubtedly the case, and in addition to that there are a great many policies which have been taken out at very largely increased premiums, which have covered property against losses arising from riot or civil commotion, and we have had a number of cases in which these losses have also been endeavoured to be repudiated by these large insurance companies. The policy holders are, therefore, thrown back on the only remedy which they possess, which is to seek to make the ratepayers liable for the losses which they have incurred, or to avoid a most expensive law suit, with a certainty that if the decision goes against these wealthy insurance companies the case will be taken to the House of Lords, and the unfortunate policy holder will be faced with practically prohibitive expense in litigation. It is no wonder that these insurance companies under these conditions have been able to put up the palatial edifices that you see in London and scattered all over the large cities in Great Britain, because they have been receiving a most substantial income from Ireland, and, of course, other places as well.
Perhaps the Irish income is not as large as the others, but the repudiation mainly has taken place here. None of us is so young that he cannot recollect the time when honest John Bull was referred to with respect, and often with affection; but a new generation has arisen, and with new men and new methods the place of honest John Bull has been taken by these huge associations, and whenever they have any case to fight, the unfortunate policy holder is put up against an enormous aggregation of capital, which he knows will be ruthlessly used against him. I think it was O'Connell who said that these large associations had neither a body to be kicked nor a soul to be saved. They do not mind what excuses they put forward to evade conditions. Even the London Times, lately, has found it necessary to call attention to the abuses which have been taking place even in England, and they have pointed out that in most of the proposals and in some of the policies there are conditions attached which are something like the small print on the back of a pound note, which nobody ever reads, and which have vital effects on the interests of the policy holders. They pointed out that the policy holder in every case is hardly able to protect himself, and that some protection is necessary for him. I think the time comes to all of us, and probably to most countries when one has to consider whether you will submit to an imposition like a slave, or whether you will fight it. I think that time has come in this country, and I think the people we represent here expect us to do what we can, and, perhaps, what we can do for their protection may be very limited. I do not think we would be at all out of place in asking our Government to take advice as to what steps they could take to protect the policy holders. I think it is only reasonable to ask them to do so, and, therefore, I have much pleasure in proposing the resolution which appears in my name.
