Cars: Insurance

HM Treasury written question – answered on 10th February 2016.

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Photo of Andrew Slaughter Andrew Slaughter Shadow Minister (Justice)

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effectiveness of competition in the car insurance market; and if he will make an assessment of the potential effect on competition in that industry of a 10 per cent cap on market share.

Photo of Harriett Baldwin Harriett Baldwin The Economic Secretary to the Treasury

This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.

The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

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