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income policies and deferred bonus policies. How it
is unquestionable that in the conditions of modern
life and business, many of the public find that one
or other of these so called "fancy" policies suita
their requirements better than the ordinary straight
life or endowment and provided the conditions of
these contracts are carried out there is no reason
why the public should be deprived of their advantages,
Many of the British companies issue policies under
spacial schemes and the spirit of caution and pru-
-dence and conservatism which the system of Publicity
and Freedom has engendered among their managements is
sufficient guarantee that no scheme which is unsound
actuarially will be put forward or if put forward will
be continued once its weakness is disclosed.
4th, Government control of investments is undestrable
-cause it rolloves the Directors of responsibility
and excludes desirable investments. At the same time
it tends to unduly appreciate the market price of
those Securities which become known as alone avail-
-able for the investment of Insurance Funds. These
are a few of the chief points urged against Government
control and the imposing of a fixed Standard of sol-
-vency but there are many others. I think however
these will suffice to show the nature of the object-
-ions advanced.
Assuming however that Government supervision is
decided upon,
how far does the present ordinance
be-
meet the case and what are the chief points to be
noted. The Ordinance in question has evidently been
based on the Life Assurance Company Acts 1870
1872,
but it goes much further than these acts and the framers of it appear to have forgotten two facts 1st. that Insurance conditions have altered considerably
within the last 30 years and 2ndly. that the condi-
-tions