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747714
registered interest false more like this
date less than 2017-07-03more like thismore than 2017-07-03
answering body
HM Treasury remove filter
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Insurance: High Rise Flats more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what discussions he has had with the insurance industry on insurance for residents of tower blocks. more like this
tabling member constituency Plymouth, Sutton and Devonport more like this
tabling member printed
Luke Pollard remove filter
uin 2497 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2017-07-10more like thismore than 2017-07-10
answer text <p>The Government is determined that insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority (FCA) rules. The FCA sets the conduct standards required of insurance firms which aim to ensure consumers are treated fairly. This includes ensuring fair access to insurance products for all consumers.</p><p> </p><p>The Chancellor has discussed the Grenfell tower disaster with leading industry representatives to get an understanding of how they may respond, and any possible impact on insurance for residents. The industry have said that it is too early to properly understand the implications, so have not yet made any changes to their underwriting models or pricing strategies.</p><p> </p><p>The Treasury has also been in contact with the relevant insurance companies reported to have refused home insurance for residents living in tower blocks. Both companies have assured officials that no individuals in the tower blocks have been refused access to home insurance as a result of the fire at Grenfell Tower, but we remain in regular contact with the insurance industry to understand how it may shape their view of fire risk. The Treasury will continue to monitor the situation and will investigate this matter further if it sees evidence of customers in tower blocks being treated unfairly.</p><p> </p>
answering member constituency North East Cambridgeshire more like this
answering member printed Stephen Barclay more like this
grouped question UIN 2498 more like this
question first answered
less than 2017-07-10T09:09:58.907Zmore like thismore than 2017-07-10T09:09:58.907Z
answering member
4095
label Biography information for Steve Barclay more like this
tabling member
4682
label Biography information for Luke Pollard more like this