House Insurance: Fees and Charges
(asked on 30th October 2017) - View Source
Question to the HM Treasury:
To ask Her Majesty's Government what assessment they have made of whether insurance premiums levels have deterred people from taking out insurance on their homes.
This question was answered on 6th November 2017
The Financial Conduct Authority (FCA) is responsible for monitoring and regulating the insurance industry. They set the conduct standards required of insurance firms, which aims to ensure consumers are treated fairly and have fair access to affordable insurance products.
If it becomes clear that intervention is necessary, the FCA is able to do so. For example, in April 2017 the FCA took action on the practice of insurers increasing premiums at renewal.