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Thursday, 9 December 1971
Page: 4613


Mr Whitlam asked the Treasurer, upon notice:

When legislation on general insurance is introduced, as Prime Minister Gorton promised to do as a matter of urgency and with all possible speed on 8th September, will steps be taken to include questions on (a) compensation and damages, (b) legal expenses and (c) medical and hospital expenses on the statistical forms submitted annually by insurance companies (Hansard, 26th September 1968. page 1629 and 13th October 1970, page 2065). .


Mr Snedden - The answer to the honourable member's question Ls as follows:

The provisions which' the Government has under consideration for inclusion in the proposed legislation on general insurance are concerned primarily with the establishment of a system of supervising the financial soundness of general insurance companies. The scheme of legislation . accordingly does not envisage requiring insurers to furnish information on matters such as those referred to in this question which are not directly relevant to a company's financial soundness.







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