1-20 of 632 results for subject:Insurance
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To ask the Minister for the Cabinet Office, whether his Department is taking steps with the insurance industry to help build resilience to large-scale cyber attacks.
To ask the Minister for the Cabinet Office, whether his Department is taking steps with the insurance industry to help build resilience to large-scale cyber attacks.
Good cyber security is a first line of defence which protects industry, end users and the insurance industry alike from cyber attacks.
The Government’s approach to driving up resilience through the National Cyber Strategy includes working with market influencers, including insurers, to incentivise good cyber security practices across the economy.
The Government regularly engages with the insurance industry to consider how it can best support the growth of the cyber insurance market and help build wider economic resilience to cyber attacks.
To ask the Secretary of State for Transport, whether he has made a recent assessment of the potential merits of requiring electric bike users to (a) have a number plate and (b) be insured.
To ask the Secretary of State for Transport, whether he has made a recent assessment of the potential merits of requiring electric bike users to (a) have a number plate and (b) be insured.
The Department considered issues including a mandatory registration and insurance system for cyclists as part of a cycling and walking safety review in 2018. The review concluded that restricting people’s ability to cycle in this way would mean that many would choose other modes of transport instead, with negative impacts for congestion, pollution and health.
To ask the Secretary of State for Environment, Food and Rural Affairs, if she will take steps to ensure that insurance companies do not make the provision of flood insurance conditional on actions being taken by third parties to provide protections where the resident has no power to compel them...
To ask the Secretary of State for Environment, Food and Rural Affairs, if she will take steps to ensure that insurance companies do not make the provision of flood insurance conditional on actions being taken by third parties to provide protections where the resident has no power to compel them...
Insurers consider a range of factors in setting premiums and/or excesses in household insurance policies that include cover against flooding. Individual insurers will take different approaches to assessing flood risk. The decision to insure a property is a commercial decision made by the insurer.
To ask the Chancellor of the Exchequer, whether his Department has had recent discussions with the Competition and Market Authority on the use of exclusive jurisdiction clauses by insurance companies.
To ask the Chancellor of the Exchequer, whether his Department has had recent discussions with the Competition and Market Authority on the use of exclusive jurisdiction clauses by insurance companies.
Insurers make commercial decisions about the terms on which they will offer cover following an assessment of the relevant risks. The Government does not intend to intervene in these commercial decisions by insurers as this could damage competition in the market.
However, insurers must treat customers fairly and are required to do so under the Financial Conduct Authority’s (FCA) rules. The FCA is an independent body responsible for regulating and supervising the financial services industry, including insurance firms. The FCA, as the independent regulator, also has a statutory objective to promote effective competition in the interests of consumers. The FCA work towards that objective, as far as the work is compatible with advancing their other objectives.
To ask the Chancellor of the Exchequer, whether his Department has had discussions with the Financial Conduct Authority on the level of fees charged by companies for supporting people with claims relating to payment protection insurance.
To ask the Chancellor of the Exchequer, whether his Department has had discussions with the Financial Conduct Authority on the level of fees charged by companies for supporting people with claims relating to payment protection insurance.
Treasury ministers and officials have regular engagement with the Financial Conduct Authority (FCA) as part of the process of policy development and delivery. As was the case with previous administrations, it is not the Government’s practice to provide details of all such meetings.
Claims Management Companies supporting any remaining payment protection insurance (PPI) claims remain subject to a 20 per cent fee cap, as set in the Financial Guidance and Claims Act 2018. Further information on this PPI fee cap can be found in the FCA handbook, Section 5.1 of the Claims Management: Conduct of Business sourcebook.
To ask the Secretary of State for Levelling Up, Housing and Communities, if she will hold discussions with the British Insurance Brokers' Association on the potential merits of producing industry guidance for meeting fair value rules to ensure that leaseholders benefit from such rules.
To ask the Secretary of State for Levelling Up, Housing and Communities, if she will hold discussions with the British Insurance Brokers' Association on the potential merits of producing industry guidance for meeting fair value rules to ensure that leaseholders benefit from such rules.
I have met both the British Insurance Brokers’ Association and the Association of British Insurers, along with companies providing services in these sectors, on multiple occasions during 2023 to highlight the concerns of leaseholders regarding excess insurance costs and the need to make progress in this important area.
The Government is committed to making sure that buildings insurance costs are fair and transparent, and that leaseholders have confidence in challenging costs where necessary. Insurers must price risk in a responsible manner. It is clear from the Financial Conduct Authority reports into this market that leaseholders have not always been getting the service that they should, and this must change.
Regarding broking fees, in April 2023 the Financial Conduct Authority (FCA) consulted on giving leaseholders rights under their fair value rules and increasing requirements on the disclosure of information to leaseholders by brokers, and I strongly welcome its initiatives in this direction. The British Insurance Brokers' Association have already confirmed that they are in the process of testing new guidance for their members on how to comply with FCA fair value rules.
The Association of British Insurers has been developing a scheme for buildings with fire safety risks experiencing particularly high premiums for a significant period of time. I continue to highlight the Government’s clear expectation that this be delivered as soon as possible.
To ask the Secretary of State for Levelling Up, Housing and Communities, whether he has held recent discussions with the Association for British Insurers on the provision of insurance for buildings deemed at risk of fire.
To ask the Secretary of State for Levelling Up, Housing and Communities, whether he has held recent discussions with the Association for British Insurers on the provision of insurance for buildings deemed at risk of fire.
I have met both the British Insurance Brokers’ Association and the Association of British Insurers, along with companies providing services in these sectors, on multiple occasions during 2023 to highlight the concerns of leaseholders regarding excess insurance costs and the need to make progress in this important area.
The Government is committed to making sure that buildings insurance costs are fair and transparent, and that leaseholders have confidence in challenging costs where necessary. Insurers must price risk in a responsible manner. It is clear from the Financial Conduct Authority reports into this market that leaseholders have not always been getting the service that they should, and this must change.
Regarding broking fees, in April 2023 the Financial Conduct Authority (FCA) consulted on giving leaseholders rights under their fair value rules and increasing requirements on the disclosure of information to leaseholders by brokers, and I strongly welcome its initiatives in this direction. The British Insurance Brokers' Association have already confirmed that they are in the process of testing new guidance for their members on how to comply with FCA fair value rules.
The Association of British Insurers has been developing a scheme for buildings with fire safety risks experiencing particularly high premiums for a significant period of time. I continue to highlight the Government’s clear expectation that this be delivered as soon as possible.
To ask the Secretary of State for Levelling Up, Housing and Communities, pursuant to his oral contribution of 30 January 2023, Official Report, column 55, what steps his Department has taken steps to help alter the behaviour of insurance companies; and if he will make a statement.
To ask the Secretary of State for Levelling Up, Housing and Communities, pursuant to his oral contribution of 30 January 2023, Official Report, column 55, what steps his Department has taken steps to help alter the behaviour of insurance companies; and if he will make a statement.
The Government is committed to making sure that buildings insurance costs are fair and transparent, and that leaseholders have confidence in challenging costs where necessary. Insurers must price risk in a responsible manner. It is clear from the Financial Conduct Authority reports into this market that leaseholders have not always been getting the service that they should, and this must change.
The Association of British Insurers is developing a scheme for buildings with fire safety risks experiencing particularly high premiums. I have engaged regularly with the industry to monitor the progress of the scheme. We have made clear that we expect the scheme to be delivered as soon as possible.
The Government has also committed to ban commissions paid to brokers or other third parties on buildings insurance from being passed on to leaseholders through their service charge, replacing this with more transparent fees. We are pressing relevant parties to urgently consider their charging mechanisms ahead of government reform. The Financial Conduct Authority has recently consulted on changing its rules to increase transparency for leaseholders and ensure insurers and insurance brokers apply fair value to their policies, an initiative which I strongly welcome.
We will continue to work with the insurance sector to restore confidence in building safety and a return to proportionate premiums and products.
To ask the Secretary of State for Environment, Food and Rural Affairs, whether she is taking steps with Cabinet colleagues to track the (a) cost of insurance and (b) availability of financial lending in coastal communities vulnerable to the impacts of climate change.
To ask the Secretary of State for Environment, Food and Rural Affairs, whether she is taking steps with Cabinet colleagues to track the (a) cost of insurance and (b) availability of financial lending in coastal communities vulnerable to the impacts of climate change.
Defra has published research into the availability and affordability of insurance in 2013, 2015, 2018 and 2023. Alongside this, Flood Re monitor the availability and cost of home insurance for flood affected households, including those in coastal areas.
As part of the £200m Flood and Coastal Innovation Programme (FCIP), Ministers have allocated £36m over 6 years, to develop a ‘Coastal Transition Accelerator Programme’ (CTAP) to trial opportunities, in a small number of coastal areas at significant risk of coastal erosion, to transition and adapt to a changing climate/coastline.
East Riding of Yorkshire and North Norfolk were identified as the areas to lead off the programme. Within their projects programme, they will be exploring the availability and role of financial products or services that can help people or businesses in communities most at risk of coastal erosion. Other coastal communities and risk management authorities will benefit from the learning that will be shared from this programme to inform future climate resilience and adaptation.
Moved by
Baroness McIntosh of Pickering
232: After Clause 128, insert the following new Clause—
“Residential buildings on floodplains
(1) Local planning authorities must not grant permission for residential properties to be built on functional floodplains or areas at high risk of flooding.
(2) An area is a functional floodplain or at high risk of...
Moved by
Baroness McIntosh of Pickering
232: After Clause 128, insert the following new Clause—
“Residential buildings on floodplains
(1) Local planning authorities must not grant permission for residential properties to be built on functional floodplains or areas at high risk of flooding.
(2) An area is a functional floodplain or at high risk of...
Lords report stage seventh day. Amendments 225 to 227 and 229 to 230A agreed to. Amendment 232 agreed to on division (177 to 146). Amendment 233 agreed to on division (189 to 145). Amendment 235 agreed to on division (181 to 148). (Part 1 of 2).
Lords report stage seventh day. Amendments 225 to 227 and 229 to 230A agreed to. Amendment 232 agreed to on division (177 to 146). Amendment 233 agreed to on division (189 to 145). Amendment 235 agreed to on division (181 to 148). (Part 1 of 2).
Moved by
Earl Howe
225: Clause 120, page 152, leave out lines 21 to 26
Member's explanatory statement
This amendment removes subsection (4) of the new section 54A of the Planning Act 2008, being inserted by Clause 120, which contains a restriction on prescribed public authorities from charging fees where the advice, information or...
Moved by
Earl Howe
225: Clause 120, page 152, leave out lines 21 to 26
Member's explanatory statement
This amendment removes subsection (4) of the new section 54A of the Planning Act 2008, being inserted by Clause 120, which contains a restriction on prescribed public authorities from charging fees where the advice, information or...
My Lords, I shall speak also to the other 15 government amendments in this group. Amendment 225 to Clause 120 of the Bill, along with Amendments 226 and 227, are minor and technical. In developing NSIP applications, applicants are required to consult statutory consultees who provide expert advice to ensure...
My Lords, I shall speak also to the other 15 government amendments in this group. Amendment 225 to Clause 120 of the Bill, along with Amendments 226 and 227, are minor and technical. In developing NSIP applications, applicants are required to consult statutory consultees who provide expert advice to ensure...
My Lords, I will speak briefly to my Amendment 227A on an issue the Minister has already touched on: enabling statutory consultees, such as Natural England, Historic England and the Environment Agency, to charge both planning decision-makers and applicants for the advice they are required to give. That is, as...
My Lords, I will speak briefly to my Amendment 227A on an issue the Minister has already touched on: enabling statutory consultees, such as Natural England, Historic England and the Environment Agency, to charge both planning decision-makers and applicants for the advice they are required to give. That is, as...
My Lords, I remind the House of my relevant interests as a councillor and a vice-president of the Local Government Association.
Throughout the debates on the Bill, we have all agreed on the importance of having a plan-led approach to development. Therefore, an effective local authority planning service is key to...
My Lords, I remind the House of my relevant interests as a councillor and a vice-president of the Local Government Association.
Throughout the debates on the Bill, we have all agreed on the importance of having a plan-led approach to development. Therefore, an effective local authority planning service is key to...
My Lords, I have added my name to Amendment 235, which I proposed in Committee and to which the noble Baroness, Lady Pinnock, has just spoken. Since Committee, the need for it has become more urgent, as reflected in the report of the Levelling Up, Housing and Communities Select Committee...
My Lords, I have added my name to Amendment 235, which I proposed in Committee and to which the noble Baroness, Lady Pinnock, has just spoken. Since Committee, the need for it has become more urgent, as reflected in the report of the Levelling Up, Housing and Communities Select Committee...
My Lords, before I talk about the amendments, I take this opportunity, on Back British Farming Day, to pay tribute to and celebrate our wonderful farmers across the country—a big thank you to them.
I draw noble Lords’ attention to my interests in the register: I am now vice-president of the...
My Lords, before I talk about the amendments, I take this opportunity, on Back British Farming Day, to pay tribute to and celebrate our wonderful farmers across the country—a big thank you to them.
I draw noble Lords’ attention to my interests in the register: I am now vice-president of the...