Written question asked by Mark Pritchard (Conservative) on Friday, 4 October 2024, in the House of Commons. It was due for an answer on Tuesday, 8 October 2024. It was answered by Tulip Siddiq (Labour) on Friday, 11 October 2024 on behalf of the Treasury.
Insurance: Competition and Monopolies
- Question
-
To ask the Chancellor of the Exchequer, if she will take legislative steps to (a) increase competition and (b) reduce monopolies in the consumer insurance market.
- Answer
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The Government is committed to ensuring that the insurance industry operates on a fair and competitive basis.
The Financial Conduct Authority (FCA), as the independent regulator, has a primary objective to ensure relevant markets are functioning well and a secondary objective to promote effective competition in the interests of consumers.
The FCA has robust powers to tackle anti-competitive practices, working with the Competition and Markets Authority where required. The Government is confident that both regulators are effective in their oversight of the insurance market.
Secondary information
- Type
- Written question
- Reference
- 5969
- Session
- 2024-26
- Transferred
- Yes
- Subjects
- Consumers Competition Insurance Monopolies
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2025-09-05 19:50:20 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2024-25/5969
- In Indexing
- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2024-25/5969
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2024-25/5969