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1091334

	registered interest
	date	19/03/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans his Department has to ban car insurers from imposing compulsory change of address fees on their policy holders.
	tabling member constituency	York Outer
	tabling member printed	Julian Sturdy
	uin	234172
	answer	answer is ministerial correction date of answer 26/03/2019 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 requires firms to act fairly in accordance with the best interests of customers. Customers that believe that they have been treated unfairly, such as their insurer charging fees disproportionate to the level of work involved, should make a formal complaint to their insurer.</p><p> </p><p>If they then feel that their complaint has not been dealt with satisfactorily they can refer the matter to the Financial Ombudsman Service (FOS) - an independent body set up to provide arbitration in such cases. The decision of the FOS is binding on insurers up to the value of £150,000.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/03/2019 13:09:44 answering member 4051 label Biography information for John Glen
	tabling member	4079 label Biography information for Julian Sturdy

1663737

	registered interest
	date	13/10/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will launch a consumer review of the car insurance market for the purposes of understanding the (a) adequacy of levels of competition and (b) comparative pricing structures between companies.
	tabling member constituency	The Wrekin
	tabling member printed	Mark Pritchard
	uin	201590
	answer	answer is ministerial correction date of answer 19/10/2023 answer text <p>The motor insurance market has many providers offering a variety of insurance products to suit the needs of customers. The Financial Conduct Authority (FCA), as the independent regulator for financial services, has a statutory objective to promote competition in the interests of consumers, and, working closely with the Competition and Markets Authority, can enforce against breaches of competition law. The FCA have also introduced several reforms, including the Consumer Duty rules, to ensure consumers are treated fairly in regard to pricing.</p><p> </p><p>Insurers make commercial decisions about the terms, conditions or price that they set when offering insurance, including motor insurance. The Government does not intervene in these commercial decisions by insurers as this could damage competition in the market.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 19/10/2023 14:56:44 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1576 label Biography information for Mark Pritchard

937737

	registered interest
	date	10/07/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department takes steps to provide tax relief to young first-time drivers for their first year of car insurance.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	162563
	answer	answer is ministerial correction date of answer 18/07/2018 answer text <p>All car insurance is subject to Insurance Premium Tax (IPT), which is a tax paid by insurers on all general insurance premiums</p><p> </p><p>As IPT is a tax paid by insurers, it is difficult to target a tax relief to benefit young drivers specifically. Tax reliefs of this kind also add complexity to the tax system and are likely to result in similar calls for reliefs on other forms of expenditure.</p><p> </p><p>However, the government does not apply VAT to any car insurance.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 18/07/2018 13:11:50 answering member 3935 label Biography information for Mel Stride
	tabling member	4131 label Biography information for Jim Shannon

1648076

	registered interest
	date	27/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of increases in car insurance premiums on consumer price inflation.
	tabling member constituency	Richmond Park
	tabling member printed	Sarah Olney
	uin	191312
	answer	answer is ministerial correction date of answer 03/07/2023 answer text <p>Information on inflation in transport insurance and its weight within the Consumer Prices Index basket can be found online at the following link: https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflation/current</p><p>Insurers make decisions about the terms on which they will offer cover following an assessment of the relevant risks. This is usually informed by the insurer’s claims experience and other industry-wide statistics. The Government does not intend to intervene in these commercial decisions by insurers as this could damage competition in the market.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 03/07/2023 12:44:24 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4591 label Biography information for Sarah Olney

1454904

	registered interest
	date	28/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: 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 (a) car insurance firms are abiding by the Equality Act 2010 and (b) no one is paying more for car insurance due to protected characteristics.
	tabling member constituency	Harrow East
	tabling member printed	Bob Blackman
	uin	148147
	answer	answer is ministerial correction date of answer 04/04/2022 answer text <p>Insurers are required to abide by the Equality Act (2010) and are not allowed to use ethnicity as a risk factor when determining the price of insurance.</p><p> </p><p>The recent Citizens Advice report highlights an important point that there is the risk of discrimination in pricing in the insurance market and this matter should be looked into further.</p><p> </p><p>Insurers must treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules. The FCA is an independent non-governmental body responsible for regulating and supervising the financial services industry, including insurers.</p><p> </p><p>The Government is keen to ensure that all consumers have access to a range of financial products that suits their needs and is keeping this situation under review.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 148148 question first answered 04/04/2022 13:17:50 answering member 4051 label Biography information for John Glen
	tabling member	4005 label Biography information for Bob Blackman

1176113

	registered interest
	date	04/02/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on safeguarding against discrimination in the car insurance market.
	tabling member constituency	Birmingham, Ladywood
	tabling member printed	Shabana Mahmood
	uin	12304
	answer	answer is ministerial correction date of answer 10/02/2020 answer text <p>The Equality Act 2010 prohibits firms from discriminating against consumers with most protected characteristics, one of which is race. Insurers can only discriminate based on a limited range of characteristics if they can provide objective, accurate, and reliable evidence that the consumer is at a higher risk of making a claim, and if the information they used to assess the application was used in a reasonable way.</p><p> </p><p>Furthermore, firms are required to treat consumers fairly under the Financial Conduct Authority’s rules. The FCA is empowered to address misconduct, and where this has occurred it can undertake full investigations, and as a result impose financial penalties or even order firms to cease certain activities.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 12880 12881 question first answered 10/02/2020 12:21:56 answering member 4051 label Biography information for John Glen
	tabling member	3914 label Biography information for Shabana Mahmood