1-2 of 2 results for subject:Insurance
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House
Session
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Department
Member
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Answering member
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McCartney, Ian (2)
Legislative stage
Legislation
Subject
Publisher
To ask the Secretary of State for Work and Pensions, what the cost of buildings insurance to his Department was (a) before and (b) after 11th September 2001.
To ask the Secretary of State for Work and Pensions, what the cost of buildings insurance to his Department was (a) before and (b) after 11th September 2001.
Asked by
John Bercow
(Conservative)
Answered by
Ian McCartney
(Labour)
Answering body
Department for Work and Pensions
Type
Written questions
Status
Answered
Tabled on
1 July 2002
For answer on
16 July 2002
Answered on
16 July 2002
Mr. Bercow: To ask the Secretary of State for Work and Pensions what the cost of buildings insurance to his Department was (a)
before and (b) after 11 September 2001. [66924]
Mr. McCartney: Departments are required to comply with the Government's policy on insurance, which is set out in Government
Accounting, Chapter 30, para 30.2.5, which notes that government do not need to purchase insurance to protect the viability of its
business, and should consider insurance only where the value of claims met would exceed the cost of insurance premiums. Commercial
insurance of a building is acceptable in cases where (a) insurance is a condition of a lease (b) the lessor will not accept a
Government indemnity (c) incurring the total cost of the accommodation in question, including the cost of the insurance, is more
cost-effective than other accommodation options [Government Accounting, para 30.2.11a].
The only circumstance where the Department incurs insurance costs is where this is a condition of a lease, with payment being made
as part of the service charge paid to the landlord. Information on these charges is not held centrally.
Subjects
Costs; Buildings; Department for Work and Pensions; Government departments; Insurance; Offices; Terrorism
Date
16 July 2002
Reference
66924; 389 c262W
House
House of Commons
To ask the Secretary of State for Work and Pensions, if he will introduce proposals to require employees to pay into a joint insurance policy to underwrite employees pension schemes.
To ask the Secretary of State for Work and Pensions, if he will introduce proposals to require employees to pay into a joint insurance policy to underwrite employees pension schemes.
Asked by
Lord Watts
(Labour)
Answered by
Ian McCartney
(Labour)
Answering body
Department for Work and Pensions
Type
Written questions
Status
Answered
Tabled on
16 April 2002
For answer on
30 April 2002
Answered on
30 April 2002
Mr. Watts: To ask the Secretary of State for Work and Pensions if he will introduce proposals to require employees to pay into a
joint insurance policy to underwrite employees pension schemes. [51372]
Mr. McCartney: We have no plans to introduce proposals requiring employers to contribute to a joint insurance policy to underwrite
employees pension schemes. Compulsory mutual insurance to support the pension fund of an insolvent company was among the options
considered when we consulted on the future of the minimum funding requirement in September 2000, but it received little support.
Such an arrangement could lead to schemes neglecting their obligations knowing that their liabilities would still be met in the
event of insolvency. Many employers sponsoring well-funded schemes would object to subsidising firms which neglected their
obligations.
Subjects
Liability; Insurance; Pensions; Pension funds
Date
30 April 2002
Reference
51372; 384 c712-3W;384 c711W
House
House of Commons