The Treasury Committee today calls on consumers to submit their
views and experiences of the insurance industry since the
pandemic to inform its questioning of sector leaders.
MPs on the cross-party Committee will use the views of consumers
in their questioning of industry leaders on Wednesday 7 June. The
Committee is likely to explore the impact of inflation on
insurance premiums, the conduct of insurers when handling claims,
and the size of insurance payouts.
The MPs are also likely to examine whether firms are making
excess profits, competitiveness within the industry, and the
regulatory environment.
Consumers are invited to tweet @CommonsTreasury with
the hashtag #AskInsurers to
submit their thoughts and questions. The Committee will analyse
the responses to identify themes to inform its work.
Chair's comments
Commenting ahead of the session, , Chair of the Treasury
Committee, said:
“Insurers provide a vital service, protecting our most prized
possessions from theft, loss and damage. However, we’ve heard
anecdotal evidence in recent months of premiums rising faster
than inflation, insurers refusing to pay out, and difficulties in
making claims.
As a Committee, we’d like to hear from consumers on their
experiences of the insurance industry since the pandemic. We’ll
use these to inform our evidence session on the health and
competitiveness of the insurance market with industry bosses next
month.”
Evidence Session
Insurance
Wednesday 7 June at 2.15pm, Houses of Parliament
Watch live on
Parliamentlive.tv
Witnesses
From 2.15pm
- Doug Brown, Chief Executive Officer, UK and Ireland Life,
Aviva
- Charlotte Clark, Director of Regulation, Association of
British Insurers
- Christina Nestares, Chief Executive Officer, Admiral UK
