Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the availability of insurance cover for the weddings industry during the covid-19 outbreak.
The Government is in continual dialogue with the insurance sector regarding its response to this unprecedented situation, and is encouraging insurers to do all they can to support customers during this difficult period.
Insurers take commercial decisions regarding the products they offer and risks they cover based on their view of the likelihood of a risk occurring, and have cited the likelihood of COVID-19 risk crystallising as a challenge to insure. Different insurers may take a different view, therefore customers in the wedding sector are encouraged to shop around to seek the most suitable cover at the best price.
The Government is committed to ensuring consumers have access to a range of financial products that suit their needs and is keeping this situation under review.