Cars: Insurance

(asked on 19th March 2019) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans his Department has to ban car insurers from imposing compulsory change of address fees on their policy holders.


Answered by
John Glen Portrait
John Glen
Paymaster General and Minister for the Cabinet Office
This question was answered on 26th March 2019

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 requires firms to act fairly in accordance with the best interests of customers. Customers that believe that they have been treated unfairly, such as their insurer charging fees disproportionate to the level of work involved, should make a formal complaint to their insurer.

If they then feel that their complaint has not been dealt with satisfactorily they can refer the matter to the Financial Ombudsman Service (FOS) - an independent body set up to provide arbitration in such cases. The decision of the FOS is binding on insurers up to the value of £150,000.

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