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1684638
star this property registered interest false more like this
star this property date less than 2024-01-23more like thismore than 2024-01-23
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask His Majesty's Government, further to the announcement in the Autumn Statement 2023, published in November 2023 (CPP 977), that "the government will consult on the design of a new framework for encouraging the establishment and growth of captive insurance companies in the UK", whether they have plans for captive insurers to be automatically treated as low-risk undertakings. more like this
star this property tabling member printed
Baroness Ritchie of Downpatrick more like this
star this property uin HL1867 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2024-02-06more like thismore than 2024-02-06
unstar this property answer text <p>In Spring this year, the Government will publish a consultation on the design of a new UK regime for captive insurance companies.</p><p> </p><p>The consultation will test views on proposals to introduce an attractive and competitive new UK captive insurance regime that works for businesses. Key to this will also be proportionate regulation that maintains the UK’s high regulatory standards.</p> more like this
star this property answering member printed Baroness Vere of Norbiton more like this
star this property question first answered
less than 2024-02-06T12:28:04.717Zmore like thismore than 2024-02-06T12:28:04.717Z
unstar this property answering member
4580
star this property label Biography information for Baroness Vere of Norbiton more like this
star this property tabling member
4130
unstar this property label Biography information for Baroness Ritchie of Downpatrick more like this
1587880
star this property registered interest false more like this
star this property date less than 2023-02-21more like thismore than 2023-02-21
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether he has had recent discussions with insurance providers on taking steps to ensure that they meet the requirements set out in the Financial Conduct Authority policy statement entitled Increasing transparency and engagement at renewal in general insurance markets – feedback on CP15/41 and final rules and guidance, published in August 2016, reference PS16/21. more like this
star this property tabling member constituency Warrington North more like this
star this property tabling member printed
Charlotte Nichols more like this
star this property uin 149674 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2023-02-27more like thismore than 2023-02-27
unstar this property answer text <p>Treasury ministers frequently meet representatives of insurance providers, where topics of conversation include increasing transparency and engagement around insurance policy renewals. The Government welcomes progress in this area, including the more recent rules in the Financial Conduct Authority’s policy statement 21/5 which require that firms offer a renewal price that is no greater than the equivalent new business price for a new customer, as well as providing customers with a range of options to stop their policy from auto-renewing.</p><p> </p><p>When the Financial Conduct Authority becomes aware of individual firm failings it follows up with those firms appropriately. It does not have evidence to suggest widespread non-compliance with these rules.</p> more like this
star this property answering member constituency Arundel and South Downs more like this
star this property answering member printed Andrew Griffith more like this
star this property question first answered
less than 2023-02-27T11:09:16.047Zmore like thismore than 2023-02-27T11:09:16.047Z
unstar this property answering member
4874
star this property label Biography information for Andrew Griffith more like this
star this property tabling member
4799
unstar this property label Biography information for Charlotte Nichols more like this
1287368
star this property registered interest false more like this
star this property date less than 2021-02-19more like thismore than 2021-02-19
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what recent assessment he has made of trends in the insurance sector's level of compliance with their terms of cover and obligations with respect to claims made by consumers in the last 12 months. more like this
star this property tabling member constituency Ealing Central and Acton more like this
star this property tabling member printed
Dr Rupa Huq more like this
star this property uin 155261 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2021-02-24more like thismore than 2021-02-24
unstar this property answer text <p>The Financial Conduct Authority (FCA) is the independent non-governmental body responsible for regulating and supervising the financial services industry. The FCA’s rules require insurers to handle claims fairly and promptly and settle claims quickly once settlement terms are agreed. In addition, the FCA has said that, in light of COVID-19, insurers must consider very carefully the needs of their customers and show flexibility in their treatment of them.</p><p> </p><p>The Government is working closely with the FCA to ensure that the rules are being upheld during this crisis and fully supports the regulator in its role.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2021-02-24T14:21:25.227Zmore like thismore than 2021-02-24T14:21:25.227Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4511
unstar this property label Biography information for Dr Rupa Huq more like this
1176463
star this property registered interest false more like this
star this property date less than 2020-02-05more like thismore than 2020-02-05
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property 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. more like this
star this property tabling member constituency Leicester South more like this
star this property tabling member printed
Jonathan Ashworth more like this
star this property uin 12910 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-02-13more like thismore than 2020-02-13
unstar this property 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>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
12908 more like this
12909 more like this
star this property question first answered
less than 2020-02-13T12:09:30.433Zmore like thismore than 2020-02-13T12:09:30.433Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4244
unstar this property label Biography information for Jonathan Ashworth more like this
1176323
star this property registered interest false more like this
star this property date less than 2020-02-05more like thismore than 2020-02-05
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property 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. more like this
star this property tabling member constituency East Londonderry more like this
star this property tabling member printed
Mr Gregory Campbell more like this
star this property uin 12843 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-02-10more like thismore than 2020-02-10
unstar this property 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> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-02-10T12:30:47.86Zmore like thismore than 2020-02-10T12:30:47.86Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1409
unstar this property label Biography information for Mr Gregory Campbell more like this
1147572
star this property registered interest false more like this
star this property date less than 2019-10-01more like thismore than 2019-10-01
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property 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. more like this
star this property tabling member constituency Vale of Clwyd more like this
star this property tabling member printed
Chris Ruane more like this
star this property uin 292844 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-10-07more like thismore than 2019-10-07
unstar this property 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> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-10-07T13:47:45.083Zmore like thismore than 2019-10-07T13:47:45.083Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
534
unstar this property label Biography information for Chris Ruane more like this
1146669
star this property registered interest false more like this
star this property date less than 2019-09-26more like thismore than 2019-09-26
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property 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. more like this
star this property tabling member constituency Vale of Clwyd more like this
star this property tabling member printed
Chris Ruane more like this
star this property uin 291263 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-10-01more like thismore than 2019-10-01
unstar this property 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>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-10-01T15:17:12.243Zmore like thismore than 2019-10-01T15:17:12.243Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
534
unstar this property label Biography information for Chris Ruane more like this
1131004
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property 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. more like this
star this property tabling member constituency Livingston more like this
star this property tabling member printed
Hannah Bardell more like this
star this property uin 262447 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-13more like thismore than 2019-06-13
unstar this property 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> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-06-13T13:27:04.977Zmore like thismore than 2019-06-13T13:27:04.977Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4486
unstar this property label Biography information for Hannah Bardell more like this
1122493
star this property registered interest false more like this
star this property date less than 2019-04-23more like thismore than 2019-04-23
star this property answering body
Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insurance remove filter
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property 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. more like this
star this property tabling member constituency Newcastle upon Tyne North more like this
star this property tabling member printed
Catherine McKinnell more like this
star this property uin 246522 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-04-30more like thismore than 2019-04-30
unstar this property 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> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2019-04-30T16:09:15.17Zmore like thismore than 2019-04-30T16:09:15.17Z
unstar this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4125
unstar this property label Biography information for Catherine McKinnell more like this
810468
star this property registered interest false more like this
star this property date less than 2017-12-21more like thismore than 2017-12-21
star this property answering body
HM Treasury more like this
star this property answering dept id 14 remove filter
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Insurance remove filter
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property 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. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL4436 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-01-09more like thismore than 2018-01-09
unstar this property 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> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-01-09T14:38:56.48Zmore like thismore than 2018-01-09T14:38:56.48Z
unstar this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this