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1127306

registered interest
date	17/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he has taken to make sure that adequate interim payments to third parties are made promptly by insurance companies after those companies have accepted liability.
tabling member constituency	Orpington
tabling member printed	Joseph Johnson
uin	255668
answer	answer is ministerial correction date of answer 21/05/2019 answer text <p>The FCA is an independent body responsible for regulating and supervising the financial services industry. It sets the conduct standards required of insurance firms in relation to their business.</p><p> </p><p>The FCA’s rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim, and appropriate information on its progress; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. It is important that insurers treat customers fairly and the Government supports the FCA in carrying out its responsibilities.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 255669 255670 question first answered 21/05/2019 14:42:59 answering member 4051 label Biography information for John Glen
tabling member	4039 label Biography information for Lord Johnson of Marylebone

1127307

registered interest
date	17/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to stop insurance companies delaying interim payments to third parties to take advantage of potential changes to the Ogden discount rate.
tabling member constituency	Orpington
tabling member printed	Joseph Johnson
uin	255669
answer	answer is ministerial correction date of answer 21/05/2019 answer text <p>The FCA is an independent body responsible for regulating and supervising the financial services industry. It sets the conduct standards required of insurance firms in relation to their business.</p><p> </p><p>The FCA’s rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim, and appropriate information on its progress; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. It is important that insurers treat customers fairly and the Government supports the FCA in carrying out its responsibilities.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 255668 255670 question first answered 21/05/2019 14:42:59 answering member 4051 label Biography information for John Glen
tabling member	4039 label Biography information for Lord Johnson of Marylebone

1127308

registered interest
date	17/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make it his policy to introduce a legally binding code of conduct for insurance companies to protect (a) defendants and (b) claimants from the start of a third party claim to the final settlement.
tabling member constituency	Orpington
tabling member printed	Joseph Johnson
uin	255670
answer	answer is ministerial correction date of answer 21/05/2019 answer text <p>The FCA is an independent body responsible for regulating and supervising the financial services industry. It sets the conduct standards required of insurance firms in relation to their business.</p><p> </p><p>The FCA’s rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim, and appropriate information on its progress; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. It is important that insurers treat customers fairly and the Government supports the FCA in carrying out its responsibilities.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 255668 255669 question first answered 21/05/2019 14:42:59 answering member 4051 label Biography information for John Glen
tabling member	4039 label Biography information for Lord Johnson of Marylebone

984568

registered interest
date	09/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance Companies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the contribution to the public purse of proposed changes to carried forward losses for insurance companies in each year from 2017-18 to 2021-22.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	177339
answer	answer is ministerial correction date of answer 15/10/2018 answer text <p>Corporate interest restriction rules</p><p>Three changes to the original corporate interest restriction (CIR) rules have been announced since the measure was introduced.</p><p>Technical amendments to ensure the regime works as intended were announced at Autumn Budget 2017. These amendments are not expected to have an Exchequer impact in each year from 2017-18 to 2021-22. Further information can be found in the tax impact and information note (TIIN): <a href="https://www.gov.uk/government/publications/corporation-tax-amendments-to-the-corporate-interest-restriction-rules/corporation-tax-amendments-to-the-corporate-interest-restriction-rules" target="_blank">https://www.gov.uk/government/publications/corporation-tax-amendments-to-the-corporate-interest-restriction-rules/corporation-tax-amendments-to-the-corporate-interest-restriction-rules</a></p><p>Further technical amendments to ensure the regime works as intended were announced alongside the Finance Bill 2018-19. These amendments will not apply in 2017-18 and are not expected to have an Exchequer impact in each year from 2018-19 to 2021-22. Further information can be found in the TIIN: <a href="https://www.gov.uk/government/publications/corporation-tax-changes-to-the-corporate-interest-restriction-rules/corporation-tax-amendments-to-the-corporate-interest-restriction-rules" target="_blank">https://www.gov.uk/government/publications/corporation-tax-changes-to-the-corporate-interest-restriction-rules/corporation-tax-amendments-to-the-corporate-interest-restriction-rules</a></p><p>Technical amendments to a number of parts of the tax legislation, including the CIR rules, were also announced alongside Finance Bill 2018-19 in response to changes to the accounting treatment of leases. These amendments will not apply in 2017-18 and are expected to have a negligible impact on the Exchequer in each year from 2018-19 to 2021-22. Further information can be found in the TIIN: <a href="https://www.gov.uk/government/publications/income-tax-and-corporation-tax-response-to-accounting-changes-for-leasing/income-tax-and-corporation-tax-response-to-accounting-changes-for-leasing" target="_blank">https://www.gov.uk/government/publications/income-tax-and-corporation-tax-response-to-accounting-changes-for-leasing/income-tax-and-corporation-tax-response-to-accounting-changes-for-leasing</a></p><p> </p><p>Carried forward losses for insurance companies</p><p>Estimates approved by the Office for Budget Responsibility are not available.</p><p> </p><p> </p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 177338 question first answered 15/10/2018 16:54:47 answering member 3935 label Biography information for Mel Stride
tabling member	4397 label Biography information for Peter Dowd

901060

registered interest
date	09/05/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance Companies
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to review the capital requirements of insurance companies and review governance arrangements to ensure that they can compete on an equal footing with pensions superfunds.
tabling member printed	Lord Myners
uin	HL7704
answer	answer is ministerial correction date of answer 21/05/2018 answer text <p>Her Majesty’s Government announced in the Department for Work &amp; Pension’s recent White Paper (&quot;<em>Protecting Defined Benefit Pension Schemes</em>&quot;) that it will consult later this year on an authorisation regime for “superfunds”. Her Majesty’s Government is in regular discussions with the relevant regulators and with industry, and will of course consider any potential impacts from possible changes carefully.</p> answering member printed Lord Bates question first answered 21/05/2018 13:10:45 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners