We therefore welcome the arrangement which has been announced providing for the pooling between the companies and Lloyd's Underwriters of war risk insurance on cargo to and from United Kingdom ports and for the reinsurance of the King's Enemy risk with His Majesty's Government. This plan should be a distinct advantage to merchants in that it ensures adequate cover being available against risks incidental to war, whether or not underwriters feel justified in continuing to accept such liabilities for their own account.
You will doubtless recollect the recent intimation of the Chancellor of the Exchequer that the Government were also preparing a scheme of insurance to cover essential commodities, as well as a plan for compensation in respect of other property damaged or destroyed by enemy action, Needless to say, the companies have offered the fullest assistance to His Majesty's Government in the working out of these various schemes.
Text read from the printed page and cleaned; old type leaves the occasional error.