Insurance and Financial Services

Select Committee

Lloyd's of London

RFS0018 - Are the UK’s Russian financial sanctions working?

Written Evidence Apr. 26 2024

Committee: Treasury Committee (Department: HM Treasury)

Found: RFS0018 - Are the UK’s Russian financial sanctions working? Lloyd's of London Written Evidence

Select Committee

Association of British Insurers

RFS0015 - Are the UK’s Russian financial sanctions working?

Written Evidence Apr. 26 2024

Committee: Treasury Committee (Department: HM Treasury)

Found: RFS0015 - Are the UK’s Russian financial sanctions working?

Written Question

Insurance: Payment Methods

Tuesday 23rd April 2024

Asked by: Mark Pritchard (Conservative - The Wrekin)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will hold discussions with the Financial Conduct Authority on the additional costs to consumers of paying (a) vehicle and (b) household insurance in monthly instalments; and if he will make an assessment of the potential impact of such costs on people on lower incomes.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

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. 
   
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.

The Financial Conduct Authority (FCA) is the independent regulator responsible for supervising the insurance industry. The FCA 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.

Non-Departmental Publication (Transparency)
UK Export Finance (UKEF)

Apr. 26 2024

Source Page: UK Export Finance: Commercial Pipeline 2024
Document: (webpage)

Found: services Political Credit Risk Insurance Service FWA (CR_2591) LOT 2 UKEF-C1978 UKEF0521 Contract for

Commons Chamber
National Insurance Contributions (Reduction in Rates) (No. 2) Bill
Committee of the whole House - Wed 13 Mar 2024
HM Treasury

Mentions:
1: James Murray (LAB - Ealing North) pay cheque of financial year 2024-25? - Speech Link
2: James Murray (LAB - Ealing North) as a result of national insurance and income tax being merged. - Speech Link
3: James Murray (LAB - Ealing North) their pensions, on public services and on the health of our economy. - Speech Link
4: Kirsty Blackman (SNP - Aberdeen North) We believe it should be properly funded to deliver our vital public services, and we do not believe that - Speech Link

Written Question

Motor Vehicles: Insurance

Tuesday 30th April 2024

Asked by: Gregory Campbell (Democratic Unionist Party - East Londonderry)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will hold discussions with insurance companies on trends in the level of car insurance premia.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors, including financial services firms, on an ongoing basis. 
   
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.

Select Committee