Written question asked by George Howarth (Labour) on Thursday, 20 April 2017, in the House of Commons. It was due for an answer on Monday, 24 April 2017. It was answered by Oliver Heald (Conservative) on Tuesday, 25 April 2017 on behalf of the Ministry of Justice.
Motor Insurance
- Question
-
To ask the Secretary of State for Justice, how many insurance companies market car insurance products in the UK; and which of those insurance companies have declared that they will hand back £40 savings specified by the Government from personal injury reforms to customers in the form of lower premiums.
- Answer
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The Ministry of Justice does not hold information on the number of insurance companies that market car insurance products in the UK.
Leading insurers have publicly committed to pass on savings from the Government’s reforms to consumers through lower premiums, with Axa, Aviva and LV= committing to passing on 100%. Motor insurance is intensely competitive and insurance companies will have little choice but to pass on the savings or risk being priced out of the market. The Government will monitor the industry’s reaction and will consider further action if required.
Secondary information
- Type
- Written question
- Reference
- 71398
- Session
- 2016-17
- Subjects
- Compensation Fees and charges Personal injury Motor insurance
- Contains statistics
- Yes
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2024-06-14 14:09:16 +0100
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- http://data.parliament.uk/writtenparliamentaryquestion/commons/2016-17/71398
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