Written question asked by Barry Gardiner (Labour) on Wednesday, 20 June 2001, in the House of Commons. It was due for an answer on Tuesday, 26 June 2001. It was answered by Ruth Kelly (Labour) on Tuesday, 26 June 2001 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Financial Services Authority during the past year about the publication of negative levels of cash flow and rising profits at Independent Insurance Company; what discussions the Financial Services Authority has had with KPMG about (a) their role as external auditors of Independent Insurance Company and (b) their assessment of the adequacy of Independent Insurance Company's reserves; if he will make a statement on the Serious Fraud Office's investigation into the Independent Insurance Company; what regulations he proposes to instigate through the Financial Services Authority to ensure that all claims against an insurance company are properly entered into the company's accounting system; on what dates officials from the Financial Services Authority met Mr Michael Bright in his capacity as Chief Executive of Independent Insurance Company during the past 12 months; and what matters were discussed.

Secondary information

Type: Written question
Reference: 370 c59W; 403;402;401;420;404
Session: 2001-02
Subjects: Complaints Abuse Insurance companies Financial services Insurance Regulation Independent Insurance
Link: View this Written question on www.publications.parliament.uk