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732283
registered interest false more like this
date less than 2017-06-23more like thismore than 2017-06-23
answering body
HM Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name CaTreasury more like this
hansard heading Insurance: Terrorism more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask Mr Chancellor of the Exchequer, what steps his Department is taking to ensure that insurance companies pay out compensation due to businesses affected by recent terrorist attacks as quickly as possible. more like this
tabling member constituency Bermondsey and Old Southwark more like this
tabling member printed
Neil Coyle more like this
uin 1001 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2017-06-28more like thismore than 2017-06-28
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 sets the conduct standards required of insurance firms which aim to ensure consumers are treated fairly. This includes provisions relating to the handling of claims by insurers. The rules state that insurers must handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim, and appropriate information on its progress; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. Furthermore, through the Enterprise Act 2016, the Government introduced a legal requirement for claims to be made within a reasonable timescale, and created an entitlement to damages where claims are paid late.</p><p> </p><p>Following discussions with the Metropolitan Police, the Treasury has formally certified the London Bridge attack as an act of terrorism, following an established legal process. This is a necessary step before any claims can be made on the terrorism reinsurer, Pool Re. The Treasury recognises the urgency of responding to requests for certification and treats this as a matter of priority.</p>
answering member constituency North East Cambridgeshire more like this
answering member printed Stephen Barclay more like this
question first answered
less than 2017-06-28T16:26:53.513Zmore like thismore than 2017-06-28T16:26:53.513Z
answering member
4095
label Biography information for Steve Barclay more like this
tabling member
4368
label Biography information for Neil Coyle remove filter
732284
registered interest false more like this
date less than 2017-06-23more like thismore than 2017-06-23
answering body
Department for Business, Energy and Industrial Strategy more like this
answering dept id 201 more like this
answering dept short name Business, Energy and Industrial Strategy more like this
answering dept sort name Business, Energy and Industrial Strategy more like this
hansard heading Borough Market: Terrorism more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will meet Borough Market traders to discuss their business needs in the aftermath of the recent terror attack which forced those businesses to close temporarily. more like this
tabling member constituency Bermondsey and Old Southwark more like this
tabling member printed
Neil Coyle more like this
uin 1002 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2017-06-28more like thismore than 2017-06-28
answer text <p>It is important that local traders are adequately supported in the aftermath of this tragic event. I will be happy to meet with Borough Market traders whose businesses have been forced to close temporarily in order to discuss their business needs going forward.</p> more like this
answering member constituency Stourbridge more like this
answering member printed Margot James more like this
question first answered
less than 2017-06-28T14:17:09.287Zmore like thismore than 2017-06-28T14:17:09.287Z
answering member
4115
label Biography information for Margot James more like this
tabling member
4368
label Biography information for Neil Coyle remove filter