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1176463

	registered interest
	date	05/02/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the Treasury Select Committee's inquiry, consumers’ access to financial services, launched on 9 November 2018, what steps he plans to take to ensure that people with existing medical conditions have access to insurance after the transition period.
	tabling member constituency	Leicester South
	tabling member printed	Jonathan Ashworth
	uin	12910
	answer	answer is ministerial correction date of answer 13/02/2020 answer text <p>On Wednesday 5 February, the Financial Conduct Authority (FCA) published new rules and guidance to improve access to travel insurance for all consumers with medical conditions</p><p> </p><p>Included within the FCA’s rules is a requirement for firms to signpost consumers to specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical condition.</p><p> </p><p>In addition, the Government has legislated to ensure that all UK insurance policies with EU insurance companies can continue to be serviced by those EU companies after Brexit, notably with a Temporary Permissions Regime (TPR) for EEA firms currently passporting into the UK. This allows EU firms to continue operations in the UK for a time-limited period at the end of the transition period while they apply for full UK authorization, while the Financial Services Contracts Regime allows for the orderly wind down of the UK regulated activities of remaining firms who do not enter the TPR.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 12908 12909 question first answered 13/02/2020 12:09:30 answering member 4051 label Biography information for John Glen
	tabling member	4244 label Biography information for Jonathan Ashworth

1176323

	registered interest
	date	05/02/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what progress the Financial Conduct Authority has made in directing consumers with pre-existing and historical medical conditions to the most appropriate insurance providers.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	12843
	answer	answer is ministerial correction date of answer 10/02/2020 answer text <p>On 5 February, the Financial Conduct Authority (FCA) published new rules and guidance to improve access to travel insurance for all consumers with medical conditions.</p><p> </p><p>Included within the FCA’s rules is a requirement for firms to signpost consumers to specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their medical condition.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/02/2020 12:30:47 answering member 4051 label Biography information for John Glen
	tabling member	1409 label Biography information for Mr Gregory Campbell

1147572

	registered interest
	date	01/10/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of to Question 291263, what steps (a) his Department and (b) the FCA have taken to ensure that insurers are aware of their responsibility to inform consumers of changes to the way their policies are serviced in the event that the UK leaves the EU without a deal.
	tabling member constituency	Vale of Clwyd
	tabling member printed	Chris Ruane
	uin	292844
	answer	answer is ministerial correction date of answer 07/10/2019 answer text <p>HMT has been assessing the risk that a small minority of insurance payments from UK insurers into the EU may be delayed. While HMT is responsible for setting the policy direction, it is the role of the independent regulator – the Financial Conduct Authority (FCA) – to engage with industry and test firm planning.</p><p> </p><p>The FCA has made it clear to insurers and insurance intermediaries that they should have appropriate plans in place to manage a no-deal exit, this should include plans to communicate with consumers should there be a change in the way their policy is serviced. The FCA expects firms to continue to service all their customers as fully and fairly as the law permits, including what regulatory protections will apply for their customers. The FCA has delivered these messages through a combination of direct contact with firms, senior leadership speeches, dedicated Brexit pages on its website, and trade association events.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 07/10/2019 13:47:45 answering member 4051 label Biography information for John Glen
	tabling member	534 label Biography information for Chris Ruane

1146669

	registered interest
	date	26/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to Operation Yellowhammer HMG Reasonable worst case planning assumptions paragraph 16, what estimate he has made of the proportion of insurance payments from UK insurers into the EU which would be delayed in the event of the UK leaving the EU without a deal; and what estimate his Department has made of the potential length of any such delays.
	tabling member constituency	Vale of Clwyd
	tabling member printed	Chris Ruane
	uin	291263
	answer	answer is ministerial correction date of answer 01/10/2019 answer text <p>As the question notes, HMG’s Operation Yellowhammer planning assumptions are not a prediction, but a reasonable worst-case scenario. The specifics on the length and proportion of affected policies would depend on each individual case – by definition, any delays would relate to exceptional cases which therefore cannot be estimated.</p><p> </p><p>However, substantial progress has been made towards mitigating this risk. The Bank of England’s Financial Stability Report shows that UK insurers’ actions in restructuring their business have made good progress towards being able to service the majority of their £61 billion of EU liabilities after Brexit - £56 billion of this liability is expected to be addressed by 31 October. Temporary regimes announced by EU states are expected to further reduce the residual ‘at risk’ liabilities.</p><p> </p><p>The FCA expects insurers to let customers know if there will be any changes to the way policies are serviced after the UK leaves the EU. Information on gov.uk makes it clear that customers concerned about the status of their insurance policy should contact their provider.</p> answering member constituency Salisbury answering member printed John Glen question first answered 01/10/2019 15:17:12 answering member 4051 label Biography information for John Glen
	tabling member	534 label Biography information for Chris Ruane

1131004

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	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 ensure that insurance companies do not unfairly discriminate against consumers with (a) historical and (b) current mental health conditions.
	tabling member constituency	Livingston
	tabling member printed	Hannah Bardell
	uin	262447
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government is determined that all insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules.</p><p> </p><p>The FCA has placed access and vulnerability at the core of the its Mission and Business Plan. For example, it is currently exploring options for signposting consumers with pre-existing and historic medical conditions, such as mental health conditions, to specialist travel insurance providers so that these consumers are better able to access suitable insurance.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:27:04 answering member 4051 label Biography information for John Glen
	tabling member	4486 label Biography information for Hannah Bardell

1122493

	registered interest
	date	23/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps the Government is taking to protect consumers from the loyalty penalty in the insurance market.
	tabling member constituency	Newcastle upon Tyne North
	tabling member printed	Catherine McKinnell
	uin	246522
	answer	answer is ministerial correction date of answer 30/04/2019 answer text <p>The Financial Conduct Authority (FCA) sets the conduct standards which insurance firms are required to meet so that consumers are treated fairly. The Government is committed to ensure that the insurance industry functions well for everyone and welcomed the launch of the FCA’s General Insurance Pricing Practices Market Study. We expect the FCA will report its interim findings in Autumn 2019. As part of this study, the FCA will consider all potential remedies that may be required to make the market work well for consumers. The Government is monitoring the outcomes of this Market Study closely and will engage with the FCA on the appropriate action that is required.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/04/2019 16:09:15 answering member 4051 label Biography information for John Glen
	tabling member	4125 label Biography information for Catherine McKinnell

810468

	registered interest
	date	21/12/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Insurance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what measures they are taking to ensure that insurance providers can lawfully operate and fulfil their contractual obligations after Brexit.
	tabling member printed	Lord Taylor of Warwick
	uin	HL4436
	answer	answer is ministerial correction date of answer 09/01/2018 answer text <p>The government is working to ensure continuity of cross-border contracts in all financial services sectors, including insurance. Much of the detail of the arrangements remains a matter for the negotiation process.</p><p>However, on 20 December 2017 the government announced that, if necessary, it will bring forward secondary legislation which will enable European Economic Area (EEA) firms and funds operating in the UK to obtain a “temporary permission” to continue their activities in the UK for a limited period after EU withdrawal.</p><p>Alongside the temporary permissions regime, the government will also bring forward secondary legislation, if necessary, to ensure that contractual obligations such as insurance contracts which are not covered by the regime can continue to be met.</p> answering member printed Lord Bates question first answered 09/01/2018 14:38:56 answering member 1091 label Biography information for Lord Bates
	tabling member	1796 label Biography information for Lord Taylor of Warwick

764316

	registered interest
	date	02/10/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Insurance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assurances they have given regarding the future of long-term insurance contracts in the light of Brexit.
	tabling member printed	Baroness Hayter of Kentish Town
	uin	HL1653
	answer	answer is ministerial correction date of answer 16/10/2017 answer text <p>The government recognises the issues the UK’s departure from the EU creates for firms ability to service long-term contracts in force at EU exit. We are considering in particular risks arising from any change of passporting arrangements and the impact on cross-border contracts, including long-term insurance contracts.</p><p><strong> </strong></p><p>Much of the detail of these arrangements remains a matter for the EU exit negotiation process, but we will continue to provide information to help firms deal with the challenges and take advantage of the opportunities as we move towards our future relationship with the EU.</p><p><strong> </strong></p> answering member printed Lord Bates question first answered 16/10/2017 13:32:37 answering member 1091 label Biography information for Lord Bates
	tabling member	4159 label Biography information for Baroness Hayter of Kentish Town

756233

	registered interest
	date	04/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 14 July 2017 to Question 3386, when he expects to conclude his assessment; and if he plans to publish a report based on that assessment.
	tabling member constituency	Glasgow East
	tabling member printed	David Linden
	uin	7644
	answer	answer is ministerial correction date of answer 08/09/2017 answer text <p>The discussions on which the Treasury’s analysis of firms’ plans are based will continue until and beyond exit date. The Treasury has undertaken not to publish information shared by firms in confidence.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 08/09/2017 12:59:30 answering member 4095 label Biography information for Steve Barclay
	tabling member	4640 label Biography information for David Linden

749303

	registered interest
	date	06/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether he will make an assessment of the effect on the insurance sector of the UK leaving the EU without having agreed a trade deal with the EU.
	tabling member constituency	Glasgow East
	tabling member printed	David Linden
	uin	3386
	answer	answer is ministerial correction date of answer 14/07/2017 answer text <p>Treasury ministers and officials are in close contact with the insurance industry and are assessing how firms would be affected by the many possible outcomes of market access discussions.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 14/07/2017 12:01:46 answering member 4095 label Biography information for Steve Barclay
	tabling member	4640 label Biography information for David Linden