1-9 of 9 results for subject:Insurance
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My Lords, on housing insurability, what consideration is being given to the problem of premium escalation and refusal to insure in areas that have not flooded but are shown as at risk on flooding mapping due to climate change? Would it not be helpful if we could have some review on how local authorities disseminate such information, its effect on premiums and how it is used during property conveyance? I declare an interest as a resident of an apartment where flood protection measures have enabled us to avoid the increased premiums I am referring to in this question.
My Lords, on housing insurability, what consideration is being given to the problem of premium escalation and refusal to insure in areas that have not flooded but are shown as at risk on flooding mapping due to climate change? Would it not be helpful if we could have some review on how local authorities disseminate such information, its effect on premiums and how it is used during property conveyance? I declare an interest as a resident of an apartment where flood protection measures have enabled us to avoid the increased premiums I am referring to in this question.
As I said, the Climate Change Committee has assessed that the insurance gap is currently low relative to most countries. Flood risk, though, is the most immediate concern for UK households. The Environment Agency’s latest flood
risk assessment indicated that around 6.3 million properties in England are at risk of flooding, increasing to 8 million as a result of climate change. The Government are working with Flood Re to ensure the scheme remains effective and financially sustainable through to its planned end date of 2039, and discussions are ongoing to understand and tackle the medium-term pressures.
To ask His Majesty's Government what information they, or prison authorities, hold on the volume and value of claims by persons held in custody against (1) prison authorities, and (2) independent insurers (where prison authorities are made aware of the insurance claims).
To ask His Majesty's Government what information they, or prison authorities, hold on the volume and value of claims by persons held in custody against (1) prison authorities, and (2) independent insurers (where prison authorities are made aware of the insurance claims).
As of 4 March 2024, there were 3,828 open claims by prisoners against His Majesty’s Prison & Probation Service (HMPPS). The nominal amount of claims against HMPPS is of the order of £62 million but that figure is not indicative of any ultimate liability. HMPPS does not hold data on claims made by prisoners against independent insurers. The number and value of claims has remained fairly consistent over recent years. A significant number of open claims and proportion of the total value of claims are historic and relate to incidents that are alleged to have occurred in the 1960s, 1970s and 1980s.
HMPPS successfully defends around two-thirds of all litigation cases brought by prisoners. Where damages are awarded to prisoners, we seek to ensure that payments are offset against any outstanding debts owed to victims and the courts.
To ask His Majesty's Government what assessment they have made of the liability of the London insurance market for claims arising from the war in Ukraine for the loss of commercial aircraft seized or destroyed by the Russian state.
To ask His Majesty's Government what assessment they have made of the liability of the London insurance market for claims arising from the war in Ukraine for the loss of commercial aircraft seized or destroyed by the Russian state.
Insurance arrangements and claims for commercial aircraft seized or destroyed by the Russian state are a commercial matter between insurers and their insureds. The Government has not made an assessment of the London market’s liability in respect of these aircraft.
But they are still doing it.
But they are still doing it.
My Lords, every call made in respect of PPI is not necessarily inappropriate. Some are. Many people have used claims management companies because they did not feel confident going through the process themselves. I accept that there has been abuse. The key thing we have done is to give the regulator power to crack down on firms which make speculative claims to the banks when there is no justification for it.
To ask the Chairman of Committees what has been the saving in the budget for members’ insurance arising out of the House of Lords Financial Plan approved in 2010.[HL4698]
To ask the Chairman of Committees what has been the saving in the budget for members’ insurance arising out of the House of Lords Financial Plan approved in 2010.[HL4698]
The expenditure for members’ insurance since the financial plan was approved in 2010 has been as follows:
| Financial
year | £000s |
| 2009-10 | 53 |
| 2010-11 | 16 |
| 2011-12 | 15 |
| 2012-13 | 15 |
This is a saving of £38,000 per year, or 72%.
My Lords, it is not just a question of the availability of insurance. Just as important is the question of excess. Will that very important component be on the agenda?
My Lords, it is not just a question of the availability of insurance. Just as important is the question of excess. Will that very important component be on the agenda?
My Lords, I have first-hand experience of that very point. I think that in a number of cases, premiums have been held relatively steady but the excesses have been put up. The noble Lord is absolutely right.
The Minister has not answered the question he was asked. If it works abroad, why can it not work here?
The Minister has not answered the question he was asked. If it works abroad, why can it not work here?
My Lords, I suggested very good reasons as to why it would not work.
To institute an inquiry into the incidence of senior police officers seeking appointments, prior to their retirement, to the board of, or as consultants to, Control Risks, a firm specialising in kidnap insurance, with a view to establishing whether this practice is in the public interest. - No.
To institute an inquiry into the incidence of senior police officers seeking appointments, prior to their retirement, to the board of, or as consultants to, Control Risks, a firm specialising in kidnap insurance, with a view to establishing whether this practice is in the public interest. - No.
To introduce legislation to prohibit serving or retired police officers from taking up appointments to the board of, or as consultants to, commercial organisations specialising in kidnap insurance. - No.
To introduce legislation to prohibit serving or retired police officers from taking up appointments to the board of, or as consultants to, commercial organisations specialising in kidnap insurance. - No.