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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 the financial services regulators, on
an ongoing basis.</p><p /><p>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> </p><p>The Financial Conduct Authority (FCA) is the independent
regulator responsible for supervising the insurance industry. Alongside the Competition
and Markets Authority, the FCA can enforce against breaches of competition law for
the provision of financial services.</p><p> </p><p>The FCA also 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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