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838240

registered interest
date	07/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Insurance: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to update the Reinsurance (Acts of Terrorism) Act 1993 to enable insurance companies to pay compensation to businesses after terrorism attacks when there is no damage to property.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	127138
answer	answer is ministerial correction date of answer 20/02/2018 answer text <p>There is nothing in current legislation in the Reinsurance (Acts of Terrorism) Act 1993 that prevents insurers from offering terrorism insurance beyond property damage to businesses, and indeed such products exist on the market.</p><p> </p><p>That said, I understand the concerns that businesses have raised about terrorism insurance cover for business interruption losses that are not linked to damage to commercial property and want to do everything we can to help. The Treasury remains in discussions with the insurance industry, Pool Re and other interested parties to ensure that the Act continues to enable appropriate terrorism cover to be available for all businesses in the UK.</p><p> </p><p>We are actively exploring options, including legislation, to address this and will confirm our next steps in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 127139 127140 question first answered 20/02/2018 17:28:57 answering member 4051 label Biography information for John Glen
tabling member	4368 label Biography information for Neil Coyle

838241

registered interest
date	07/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the adequacy of terrorism insurance in compensating businesses after an act of terror.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	127139
answer	answer is ministerial correction date of answer 20/02/2018 answer text <p>There is nothing in current legislation in the Reinsurance (Acts of Terrorism) Act 1993 that prevents insurers from offering terrorism insurance beyond property damage to businesses, and indeed such products exist on the market.</p><p> </p><p>That said, I understand the concerns that businesses have raised about terrorism insurance cover for business interruption losses that are not linked to damage to commercial property and want to do everything we can to help. The Treasury remains in discussions with the insurance industry, Pool Re and other interested parties to ensure that the Act continues to enable appropriate terrorism cover to be available for all businesses in the UK.</p><p> </p><p>We are actively exploring options, including legislation, to address this and will confirm our next steps in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 127138 127140 question first answered 20/02/2018 17:28:57 answering member 4051 label Biography information for John Glen
tabling member	4368 label Biography information for Neil Coyle

838242

registered interest
date	07/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Insurance: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make it his policy to introduce legislation to update the Reinsurance (Acts of Terrorism) Act 1993 to enable insurance companies to pay compensation to businesses after terrorism attacks when there is no damage to property.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	127140
answer	answer is ministerial correction date of answer 20/02/2018 answer text <p>There is nothing in current legislation in the Reinsurance (Acts of Terrorism) Act 1993 that prevents insurers from offering terrorism insurance beyond property damage to businesses, and indeed such products exist on the market.</p><p> </p><p>That said, I understand the concerns that businesses have raised about terrorism insurance cover for business interruption losses that are not linked to damage to commercial property and want to do everything we can to help. The Treasury remains in discussions with the insurance industry, Pool Re and other interested parties to ensure that the Act continues to enable appropriate terrorism cover to be available for all businesses in the UK.</p><p> </p><p>We are actively exploring options, including legislation, to address this and will confirm our next steps in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 127138 127139 question first answered 20/02/2018 17:28:57 answering member 4051 label Biography information for John Glen
tabling member	4368 label Biography information for Neil Coyle

838572

registered interest
date	07/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to support businesses to adhere to changes to VAT reporting from 2019.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	127392
answer	answer is ministerial correction date of answer 26/02/2018 answer text <p>There will be a range of support available to help businesses prepare for VAT digital reporting in 2019. HMRC has been working closely with software providers, business representative bodies and the accountancy profession to ensure the right support is in place to help businesses adapt. The customer support model will guide businesses to the most appropriate help including technical support, webchat, YouTube training videos, webinars, helpline and agent and business guides. A pilot will start in Spring 2018 to test the system, including the support model, well ahead of April 2019.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 26/02/2018 15:58:05 answering member 3935 label Biography information for Mel Stride
tabling member	4368 label Biography information for Neil Coyle

837827

registered interest
date	06/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Insurance: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what meetings his Department has held with terrorism insurance providers in the last 12 months.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	126858
answer	answer is ministerial correction date of answer 13/02/2018 answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p>Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:</p><p><a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p>The government remains in regular discussion with the insurance industry, Pool Re and other interested parties on the provision of terrorism insurance in the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/02/2018 12:07:46 answering member 4051 label Biography information for John Glen
tabling member	4368 label Biography information for Neil Coyle

774336

registered interest
date	20/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Pool Re: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, when his Department was first notified of the need to update Pool Reinsurance to cover knife, vehicle and cyber terrorism; and what the timetable is for its reform.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	108926
answer	answer is ministerial correction date of answer 25/10/2017 answer text <p>The Reinsurance (Acts of Terrorism) Act 1993 established the government-backed terrorism reinsurer, Pool Reinsurance. The scheme reinsures against business losses caused by physical damage after an act of terrorism, in recognition of the specific challenges in relation to a lack of insurance for industrial and commercial property at that time. It was not designed to cover personal injury claims, such as those caused by a knife or vehicle attack, or non-physical damage, such as data theft.</p><p> </p><p>Within the remit of providing this type of reinsurance, the scheme was recently amended to remove the cyber exclusion. This means that physical damage caused remotely, e.g. by a “cyber trigger”, is included in the scope of cover. This change will come into effect on 1 April 2018.</p><p> </p><p>The government is in regular discussion with the insurance industry, Pool Re and other interested parties to make sure that the Reinsurance Act 1993 continues to enable appropriate terrorism cover to be available for businesses.</p><p>I have also met the hon Member to discuss this.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 25/10/2017 16:58:26 answering member 4095 label Biography information for Steve Barclay
tabling member	4368 label Biography information for Neil Coyle

758962

registered interest
date	08/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether the Government plans to require insurance companies to offer terrorism insurance on all business policies.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	9689
answer	answer is ministerial correction date of answer 18/09/2017 answer text <p>There is nothing in current legislation in the Reinsurance (Acts of Terrorism) Act 1993 that prevents insurers from offering terrorism insurance beyond property damage to businesses, and indeed such products exist on the market.</p><p> </p><p>It is up to businesses to decide what risks they would like to be insured against, and for insurers to assess the extent of the risks they are willing to cover. The Government does not generally intervene in these commercial decisions by businesses and insurers.</p><p> </p><p>That said, we remain in discussions with the insurance industry, Pool Re and other interested parties to ensure that the 1993 Reinsurance Act continues to enable appropriate terrorism cover to be available for all businesses in the UK.</p><p> </p><p>I am due to meet the Honourable Member shortly and I am happy to discuss his questions in further detail.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 9694 9695 question first answered 18/09/2017 11:09:50 answering member 4095 label Biography information for Steve Barclay
tabling member	4368 label Biography information for Neil Coyle

758963

registered interest
date	08/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether the Government plans to introduce legislation to update the Reinsurance (Acts of Terrorism) Act 1993 to enable insurance companies to offer terrorism insurance beyond property damage to businesses.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	9694
answer	answer is ministerial correction date of answer 18/09/2017 answer text <p>There is nothing in current legislation in the Reinsurance (Acts of Terrorism) Act 1993 that prevents insurers from offering terrorism insurance beyond property damage to businesses, and indeed such products exist on the market.</p><p> </p><p>It is up to businesses to decide what risks they would like to be insured against, and for insurers to assess the extent of the risks they are willing to cover. The Government does not generally intervene in these commercial decisions by businesses and insurers.</p><p> </p><p>That said, we remain in discussions with the insurance industry, Pool Re and other interested parties to ensure that the 1993 Reinsurance Act continues to enable appropriate terrorism cover to be available for all businesses in the UK.</p><p> </p><p>I am due to meet the Honourable Member shortly and I am happy to discuss his questions in further detail.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 9689 9695 question first answered 18/09/2017 11:09:51 answering member 4095 label Biography information for Steve Barclay
tabling member	4368 label Biography information for Neil Coyle

758964

registered interest
date	08/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make it his policy to introduce legislation to update the Reinsurance (Acts of Terrorism) Act 1993 to enable insurance companies to pay compensation to businesses after terrorism attacks when there is no damage to property.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	9695
answer	answer is ministerial correction date of answer 18/09/2017 answer text <p>There is nothing in current legislation in the Reinsurance (Acts of Terrorism) Act 1993 that prevents insurers from offering terrorism insurance beyond property damage to businesses, and indeed such products exist on the market.</p><p> </p><p>It is up to businesses to decide what risks they would like to be insured against, and for insurers to assess the extent of the risks they are willing to cover. The Government does not generally intervene in these commercial decisions by businesses and insurers.</p><p> </p><p>That said, we remain in discussions with the insurance industry, Pool Re and other interested parties to ensure that the 1993 Reinsurance Act continues to enable appropriate terrorism cover to be available for all businesses in the UK.</p><p> </p><p>I am due to meet the Honourable Member shortly and I am happy to discuss his questions in further detail.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 9689 9694 question first answered 18/09/2017 11:09:51 answering member 4095 label Biography information for Steve Barclay
tabling member	4368 label Biography information for Neil Coyle

757536

registered interest
date	05/09/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans his Department has to update the 1993 Reinsurance Act and the process of certifying terror attacks.
tabling member constituency	Bermondsey and Old Southwark
tabling member printed	Neil Coyle
uin	8601
answer	answer is ministerial correction date of answer 11/09/2017 answer text <p>If there have been insurance claims made on Pool Re after a terror attack, Pool Re must notify the Treasury. Following this notification, the Treasury has 21 working days to certify if the event constituted an act of terrorism under the 1993 Reinsurance Act.</p><p> </p><p>The Treasury has followed this process and responded within the 21 day period in certifying 3 terrorist attacks in 2017. The Treasury follows an established legal process to do this, recognising the urgency of responding to requests and treating this as a matter of priority.</p><p> </p><p>We remain in discussion with the insurance industry, Pool Re and other interested parties to make sure that the 1993 Reinsurance Act continues to enable appropriate terrorism cover to be available for businesses in the UK.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 11/09/2017 14:26:10 answering member 4095 label Biography information for Steve Barclay
tabling member	4368 label Biography information for Neil Coyle