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Requisitioned Ships (Insurance)

Volume 389: debated on Tuesday 18 May 1943

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asked the Parliamentary Secretary to the Ministry of War Transport, in view of the problem of tonnage replacement necessitated by losses which shipowners are at present only allowed to insure on pre-war valuation, later increased by a small percentage, whether he will now reconsider current values in the light of the cost of replacement and take action accordingly?

The values of requisitioned British vessels for war risks insurance purposes are reviewed periodically, and the cost of replacement is taken into account. I do not consider that any increase in the present values is necessary.