Weddings: Insurance

Treasury written question – answered on 25th February 2021.

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Photo of Esther McVey Esther McVey Conservative, Tatton

To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of establishing a Government-backed insurance scheme to support wedding (a) consumers and (b) businesses.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Government recognises the essential role of the insurance industry in providing the cover businesses need to operate. We are working closely with the insurers, the trade bodies and regulators to understand what more the industry can do to help individuals and businesses in their time of need, and how the insurance market delivers the support firms need as the economy reopens.

Over the course of the pandemic the Government has worked closely with the weddings sector to understand the impact of COVID-19 on their businesses and has responded with a substantial package of business support, which we keep under regular review.

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