MARINE INSURANCE. SUBCOMMITTEE OF THE COMMITTEE ON THE The subcommittee this day met, Hon. Frederick E. Lehlbach (chairman) presiding. All the other members of the subcommittee were present. Mr. LEHLBACH. This meeting is called pursuant to having referred to the Subcommittee on Miscellaneous Business a resolution adopted by the Committee on the Merchant Marine and Fisheries to investigate the question of marine insurance and to formulate legislation to provide for insurance for the merchant marine as it exists and as it will exist in the immediate future. I think the committee, in the first place, will be glad to hear from Mr. Hurley, on the subject. STATEMENT OF MR. EDWARD N. HURLEY, CHAIRMAN UNITED STATES SHIPPING BOARD. Mr. HURLEY. Mr. Chairman and gentlemen, this branch of the service is most important. I am satisfied from the experience I have had in connection with the operating of the ships that legislation passed in connection with marine insurance will be the most important part of the legislation the committee as a whole will have to pass on. It is so vital to the future of our merchant marine that I am particularly pleased that there has been a subcommittee appointed to specialize on that particular branch of the legislation. The admiralty counsel, Mr. Griffin, and Mr. Ogden, who has charge of the insurance in connection with the Shipping Board, are here, and I am working to bring everything before you in connection with the insurance. I have had a committee appointed by the marine insurance underwriters, and Mr. Rush, of Philadelphia, has submitted some thoughts in the direction of improved conditions. Mr. Ogden is familiar with every phase of the subject. We have had prepared a little memorandum that has been addressed to the chairman and the other members. I am sure that Mr. Ogden and Mr. Griffin, our admiralty counsel, will be able to answer any questions in connection with this matter, especially technical questions that I am not familiar with except in a general way. Mr. EDMONDS. You do not handle this insurance at all, except as a business proposition with another department? Mr. HURLEY. Yes, sir. We appropriated $10,000,000 during the war to handle our war risks. That is all covered in the memorandum. 3 |