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<p>Treasury Ministers and officials have regular meetings with a wide variety of organisations
in the public and private sectors, including financial services firms, on an ongoing
basis. <br> <br>The Government does not prescribe the terms, conditions or price
that insurance companies set when offering insurance. Insurers make commercial decisions
about the pricing of insurance following their assessment of the relevant risks. The
Government does not intervene in these decisions as this could damage competition
in the market.</p><p>The Financial Conduct Authority (FCA) is the independent regulator
responsible for supervising the insurance industry. The FCA requires firms to ensure
their products offer fair value (i.e. if the price a consumer pays for a product or
service is reasonable compared to the overall benefits they can expect to receive).
The FCA has been clear that it will be monitoring firms to ensure they are providing
products that are fair value, and, where necessary, it will take action.</p>
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