April 20, 1923 (14th Parliament, 2nd Session)

CON

Arthur Meighen (Leader of the Official Opposition)

Conservative (1867-1942)

Mr. MEIGHEN:

I think the minister
should give the committee some information as to the experience of the company with its insurance. What has been the result of the insurance that has been carried by the Canadian National Railways through these years? I understand they have had one system of insurance applicable to their densely populated or densely trafficked areas, and another system with differing rates for other

C.N.R.-Mortgaged Premises
areas, and I believe some area not insured, in which they carry their own insurance the intention of the insurance, of course, being to provide for cases where( if a loss occurred by fire in the densely trafficked section, the money would be at hand to pay the loss. The property would have to be repaired at once. It could not be allowed to stand, and there would be no money to do it with, if they had no insurance fund. The minister is providing some other way whereby there will be authority to pay the money out of the treasury. I would like if the minister would tell the House what has been the result of that insurance. Has it been a loss to the company? Has the company been recouped by those with whom it insured against these losses, equal to, or nearly equal, to the amount of premiums paid, does that differ in each of the areas, and has the minister any comment to make on the rate of insurance the company was able to obtain, whether it was fair and reasonable, low, or too high?

Topic:   CANADIAN NATIONAL RAILWAYS
Subtopic:   INSURANCE OF MORTGAGED PREMISES
Full View