Insurance: Standards
The question
To ask the Chancellor of the Exchequer, what steps she is taking to ensure insurers (a) settle claims and (b) proceed litigation as (i) quickly and (ii) cheaply as possible.
Answered by Emma Reynolds
The Financial Conduct Authority (FCA) is the independent body responsible for regulating and supervising the financial services industry, and sets the conduct standards required of insurance firms. Under FCA rules, insurers must handle claims fairly and promptly.
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