Treasury written question – answered at on 7 July 2008.
To ask the Chancellor of the Exchequer if he will meet representatives of the Association of British Insurers to discuss the level of administrative and cancellation fees charged by the insurance industry.
Insurance firms are regulated by the Financial Services Authority (FSA), which was established by the Government in 2001 to act as the UK's independent financial regulator. As part of their supervision of insurance firms, the FSA is responsible for ensuring that customers are treated fairly.
Customers who are unable to resolve complaints with insurance firms regarding administrative and cancellation fees can make a complaint free of charge to the independent Financial Ombudsman Service.
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