Written question asked by Alex Cunningham (Labour) on Tuesday, 28 November 2017, in the House of Commons. It was due for an answer on Thursday, 30 November 2017. It was answered by Steve Barclay (Conservative) on Wednesday, 6 December 2017 on behalf of the Treasury.
Offshore Industry: Helicopters
- Question
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To ask Mr Chancellor of the Exchequer, if he will take steps to require the insurance industry to publish historic cost benefit analyses of under writing commercial helicopter flights in the offshore energy industry since 2009.
- Answer
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The Financial Conduct Authority (FCA) is responsible for monitoring and regulating the insurance industry.
As a rule, insurers use their claims experience, other industry-wide statistics and detailed risk assessments to calculate the risks posed when underwriting an insurance contract. This enables them to price their insurance products accordingly. The Government does not generally intervene in these commercial decisions by insurers.
If it becomes clear that intervention is necessary, the FCA is able to do so.
Secondary information
- Type
- Written question
- Reference
- 116121
- Session
- 2017-19
- Subjects
- Cost effectiveness Insurance Helicopters Offshore industry
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2017-12-06 17:49:46 +0000
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2017-19/116121
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