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1684193
registered interest false more like this
date less than 2024-01-22more like thismore than 2024-01-22
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Motor Insurance: Fees and Charges more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on the regulation of car insurance premiums. more like this
tabling member constituency Ayr, Carrick and Cumnock more like this
tabling member printed
Allan Dorans more like this
uin 10912 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2024-01-30more like thismore than 2024-01-30
answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors, including the financial services regulators, on an ongoing basis.</p><p> </p><p>Insurers make commercial decisions about the pricing of insurance based on their assessment on the likelihood and expected cost of a claim. The Government does not intervene in these commercial decisions by insurers as this could damage competition in the market.</p><p> </p><p>The Financial Conduct Authority (FCA) is the independent regulator and responsible for supervising the insurance industry. The FCA have introduced several reforms, including the Consumer Duty rules, to ensure consumers are treated fairly in regard to pricing.</p> more like this
answering member constituency Hitchin and Harpenden more like this
answering member printed Bim Afolami more like this
question first answered
less than 2024-01-30T17:27:54.16Zmore like thismore than 2024-01-30T17:27:54.16Z
answering member
4639
label Biography information for Bim Afolami more like this
tabling member
4740
label Biography information for Allan Dorans more like this