Motor Insurance Taskforce
The question
To ask the Secretary of State for Transport, when her Department plans to publish an update on the work of the Motor Insurance Taskforce.
Answered by Lilian Greenwood
The cross-Government motor insurance taskforce was launched in October. It is comprised of ministers from relevant government departments and the Financial Conduct Authority and Competition and Markets Authority. The taskforce is supported by a separate stakeholder panel of industry experts representing the insurance, motor, and consumer sector.
The taskforce has a strategic remit to set the direction for UK Government policy, identifying short- and long-term actions for departments that may contribute to stabilising or reducing premiums, while maintaining appropriate levels of cover. It will look at the increased insurance costs on consumers and the insurance industry, including how this impacts different demographics, geographies, and communities.
The Department will provide updates on the motor insurance taskforce’s work and announce a date for the next meeting in due course.
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