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The Government Commodities Fire Insurance Scheme was set up in May 1940 to protect valuable raw commodities during the Second World War. The Associated Fire Insurers (Government Commodities) Management Committee (based at 66 Cheapside) advised the Government, through the Ministry of Supply, Board of Trade, Ministry of Agriculture, Fisheries and Food, UK Dominion Wool Disposals Limited and the Raw Cotton Commission, on the insuring of raw commodities such as wool, cotton, pit wood and molasses, stored in the United Kingdom and abroad.
The scheme ended on 31 March 1957. The committee was wound up by the Joint Secretariat of the Associated Insurers (British Electricity) Management Committee (set up 1949) and the British Insurance (Atomic Energy) Committee (set up 1956) which comprised two members of its staff (the committee had agreed to make its organisation available to these bodies on their establishment). The records were passed to the Fire Offices' Committee.