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To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of insurers (a) repricing, (b) limiting and (c) withdrawing their cover for the impacts of climate change on communities.
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of insurers (a) repricing, (b) limiting and (c) withdrawing their cover for the impacts of climate change on communities.
The Government recognises the risks that climate change may pose to the insurance market. HM Treasury continues to work with the insurance industry, regulators and across government to understand and monitor the potential impacts of increasing climate-related risks.
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment of the relevant risks. However, the government is determined that insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules. The FCA is the independent body responsible for regulating and supervising the financial services industry and has powers to take action against firms that do not meet its requirements.
Different insurers may take different views of risk when determining whether to offer insurance and at what price. Consumers may wish to contact the British Insurance Brokers’ Association, which can provide guidance on accessing the insurance market and help consumers find specialist brokers where appropriate.
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that people affected by climate damage have equitable access to insurers.
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that people affected by climate damage have equitable access to insurers.
The Government recognises the risks that climate change may pose to the insurance market. HM Treasury continues to work with the insurance industry, regulators and across government to understand and monitor the potential impacts of increasing climate-related risks.
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment of the relevant risks. However, the government is determined that insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules. The FCA is the independent body responsible for regulating and supervising the financial services industry and has powers to take action against firms that do not meet its requirements.
Different insurers may take different views of risk when determining whether to offer insurance and at what price. Consumers may wish to contact the British Insurance Brokers’ Association, which can provide guidance on accessing the insurance market and help consumers find specialist brokers where appropriate.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of the scale of climate damage on the UK insurance industry.
To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of the scale of climate damage on the UK insurance industry.
The Government recognises the risks that climate change may pose to the insurance market. HM Treasury continues to work with the insurance industry, regulators and across government to understand and monitor the potential impacts of increasing climate-related risks.
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment of the relevant risks. However, the government is determined that insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules. The FCA is the independent body responsible for regulating and supervising the financial services industry and has powers to take action against firms that do not meet its requirements.
Different insurers may take different views of risk when determining whether to offer insurance and at what price. Consumers may wish to contact the British Insurance Brokers’ Association, which can provide guidance on accessing the insurance market and help consumers find specialist brokers where appropriate.
Second reading. Agreed to on question. Programme motion. Agreed to on question. Money resolution. King's recommendation signified. Agreed to on question. Ways and means resolution. Agreed to on question.
Second reading. Agreed to on question. Programme motion. Agreed to on question. Money resolution. King's recommendation signified. Agreed to on question. Ways and means resolution. Agreed to on question.
I beg to move, That the Bill be now read a Second time.
Nine years ago, 72 people, 18 of them children, died in the Grenfell Tower tragedy. It was a deadly betrayal and a national tragedy that must never happen again. Let me start by remembering those who lost their...
I beg to move, That the Bill be now read a Second time.
Nine years ago, 72 people, 18 of them children, died in the Grenfell Tower tragedy. It was a deadly betrayal and a national tragedy that must never happen again. Let me start by remembering those who lost their...
I declare that I am a leaseholder whose home did have cladding, though happily that has now been resolved. I represent one of the largest concentrations of new builds with cladding, and there are serious issues, as the Secretary of State has begun to highlight. Back in 2020, the Public...
I declare that I am a leaseholder whose home did have cladding, though happily that has now been resolved. I represent one of the largest concentrations of new builds with cladding, and there are serious issues, as the Secretary of State has begun to highlight. Back in 2020, the Public...
My hon. Friend is absolutely right; we need to ensure that we have the skilled workforce this situation requires. The Ministry of Housing, Communities and Local Government, alongside other Departments, has put more investment into ensuring we have the people in post, and we will continue with that piece of...
My hon. Friend is absolutely right; we need to ensure that we have the skilled workforce this situation requires. The Ministry of Housing, Communities and Local Government, alongside other Departments, has put more investment into ensuring we have the people in post, and we will continue with that piece of...
I commend the Secretary of State for the Bill, the work she has done and the statement she just made. In my constituency, the local authority has been very good and effective at dealing with dangerous cladding—it did so immediately, which is to its credit, and that is basically the...
I commend the Secretary of State for the Bill, the work she has done and the statement she just made. In my constituency, the local authority has been very good and effective at dealing with dangerous cladding—it did so immediately, which is to its credit, and that is basically the...
I thank the right hon. Gentleman for his contribution. He is right to highlight the devastating impact on communities. The Bill will I hope go some way towards doing the things he wants to see for his constituents. Anyone who has deliberately failed to mitigate or remediate buildings that are...
I thank the right hon. Gentleman for his contribution. He is right to highlight the devastating impact on communities. The Bill will I hope go some way towards doing the things he wants to see for his constituents. Anyone who has deliberately failed to mitigate or remediate buildings that are...
I thank the Secretary of State for the work she has been doing on dangerous cladding remediation. Some constituents of mine have been able to benefit from the remediation work for buildings under 11 metres, but could she say a bit more about when funding will become available? My constituents...
I thank the Secretary of State for the work she has been doing on dangerous cladding remediation. Some constituents of mine have been able to benefit from the remediation work for buildings under 11 metres, but could she say a bit more about when funding will become available? My constituents...
I thank my hon. Friend for that. Hopefully, as we go through the Bill she will see how we are changing the emphasis in particular to ensure that the buildings most at risk will be remediated first. As I said, we have given social housing providers access to Government funding...
I thank my hon. Friend for that. Hopefully, as we go through the Bill she will see how we are changing the emphasis in particular to ensure that the buildings most at risk will be remediated first. As I said, we have given social housing providers access to Government funding...
I thank the Secretary of State for being so generous with her time. Picking up the point made by my hon. Friend the Member for Lewisham East (Janet Daby), a number of my constituents are stuck in blocks that are not high priority. They do not have as much cladding...
I thank the Secretary of State for being so generous with her time. Picking up the point made by my hon. Friend the Member for Lewisham East (Janet Daby), a number of my constituents are stuck in blocks that are not high priority. They do not have as much cladding...
I thank my hon. Friend for that intervention. I hope that in the passage of the Bill she will see we are hoping that we can do that piece of work, because we do understand the devastating impact on people’s lives.
All buildings are now considered based on the risk presented...
I thank my hon. Friend for that intervention. I hope that in the passage of the Bill she will see we are hoping that we can do that piece of work, because we do understand the devastating impact on people’s lives.
All buildings are now considered based on the risk presented...
Over the weekend, in Ebbsfleet in my constituency we saw the damage that a fire in a residential block can cause. I express my concern for those in Bodycomb Street who were harmed in that fire or have been displaced by it. Another block nearby, Heron Court, has recently had...
Over the weekend, in Ebbsfleet in my constituency we saw the damage that a fire in a residential block can cause. I express my concern for those in Bodycomb Street who were harmed in that fire or have been displaced by it. Another block nearby, Heron Court, has recently had...
I am really sorry to hear about the situation in my hon. Friend’s constituency. Since the Grenfell tragedy, many hon. Members across the House have had similar experiences of fires, including fatalities. As I outlined in terms of the thousands of buildings that need remediation, that is one thing that...
I am really sorry to hear about the situation in my hon. Friend’s constituency. Since the Grenfell tragedy, many hon. Members across the House have had similar experiences of fires, including fatalities. As I outlined in terms of the thousands of buildings that need remediation, that is one thing that...
Although only 10% of 394 developer-pledged projects have been completed, I believe that under the Bill resident management companies could face criminal charges while the developers who sign the pledges would not. Can the Secretary of State clarify whether that is the case?
Although only 10% of 394 developer-pledged projects have been completed, I believe that under the Bill resident management companies could face criminal charges while the developers who sign the pledges would not. Can the Secretary of State clarify whether that is the case?
We are trying to ensure that those who are responsible will be part of that. We know that manufacturers and so on have been using routes to try to get out of paying their fair share and doing what they need to do. This remediation Bill is about closing some...
We are trying to ensure that those who are responsible will be part of that. We know that manufacturers and so on have been using routes to try to get out of paying their fair share and doing what they need to do. This remediation Bill is about closing some...
May I press the Secretary of State a little further? In my constituency, there is a block of flats under 11 metres that has already been recognised as a priority, but the challenge is the release of that funding. Will she arrange to meet me or agree to look at...
May I press the Secretary of State a little further? In my constituency, there is a block of flats under 11 metres that has already been recognised as a priority, but the challenge is the release of that funding. Will she arrange to meet me or agree to look at...
My officials will have heard that call, and I or the Minister for Homelessness, Democracy, Communities and Faith, who is in her place, will be happy to meet my hon. Friend.
Coming back to the point made by my hon. Friend the Member for Dartford (Jim Dickson) about residents paying for...
My officials will have heard that call, and I or the Minister for Homelessness, Democracy, Communities and Faith, who is in her place, will be happy to meet my hon. Friend.
Coming back to the point made by my hon. Friend the Member for Dartford (Jim Dickson) about residents paying for...
I thank the Secretary of State for her work on this. Some campaigners have raised concerns about past methods and how the Government have come to the conclusions on which they have legislated. There are concerns that legislation could be gamed by developers, making the situation much worse for residents....
I thank the Secretary of State for her work on this. Some campaigners have raised concerns about past methods and how the Government have come to the conclusions on which they have legislated. There are concerns that legislation could be gamed by developers, making the situation much worse for residents....