Insurance and Financial Services

Select Committee

Key information on the value of the Berne Financial Services Agreement

Correspondence Mar. 06 2024

Committee: International Agreements Committee

Found: Key information on the value of the Berne Financial Services Agreement Correspondence

Select Committee

Lloyd's

UKS0001 - UK-Swiss Financial Services Agreement

Written Evidence Feb. 07 2024

Inquiry: UK-Swiss Financial Services Agreement
Inquiry Status: Closed
Committee: International Agreements Committee

Found: UKS0001 - UK-Swiss Financial Services Agreement Lloyd's Written Evidence

Non-Departmental Publication (Guidance and Regulation)
Office of Financial Sanctions Implementation

Mar. 05 2024

Source Page: Financial sanctions guidance for maritime shipping
Document: OFSI maritime shipping factsheet (PDF)

Found: Financial sanctions guidance for maritime shipping

Select Committee

London & International Insurance Brokers' Association

RFS0023 - Are the UK’s Russian financial sanctions working?

Written Evidence Apr. 26 2024

Committee: Treasury Committee (Department: HM Treasury)

Found: RFS0023 - Are the UK’s Russian financial sanctions working?

Secondary Legislation

Laid - 3 May 2024 In Force 30 Jun 2024

Insurance and Reinsurance Undertakings (Prudential Requirements) (Transitional Provisions and Consequential Amendments) Regulations 2024

Department: HM Treasury
Made negative
Parliamentary Status - Legislation

Regulation 42 of the Solvency 2 Regulations 2015 (S.I. 2015/575) (matching adjustment) and related legislation, including in particular regulation 4B of those Regulations (duty to publish technical information) and Articles 53 (calculation of the matching adjustment) and 54 (calculation of the fundamental spread) of Commission Delegated Regulation (EU) 2015/35 of …

Found: Insurance and Reinsurance Undertakings (Prudential Requirements) (Transitional Provisions and Consequential

Written Question

Motor Vehicles: Insurance

Thursday 2nd May 2024

Asked by: Lord Jackson of Peterborough (Conservative - Life peer)

Question to the HM Treasury:

To ask His Majesty's Government what discussions they have with the Competition and Markets Authority on the recent increases in car insurance premiums and access to car insurance for motorists on lower incomes.

Answered by Baroness Vere of Norbiton - Parliamentary 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. Alongside the Competition and Markets Authority, the FCA can enforce against breaches of competition law for the provision of financial services.

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.

Deposited Papers

Dec. 06 2007

Source Page: Financial inclusion: an action plan for 2008-11. 40 p.
Document: DEP2007-0247.pdf (PDF)

Found: Financial inclusion: an action plan for 2008-11. 40 p.

Departmental Publication (Policy and Engagement)
HM Treasury

Mar. 21 2024

Source Page: Building a Smarter Financial Services Regulatory Framework: Next Phase
Document: Building a Smarter Financial Services Regulatory Framework: Next Phase (PDF)

Found: Building a Smarter Financial Services Regulatory Framework: Next Phase

Select Committee