Home Insurance: Travellers
The question
To ask the Chancellor of the Exchequer, what steps her Department plans to take to ensure that Gypsies and Travellers are able to access homes and contents insurance without discrimination.
Answered by Lucy Rigby
Insurers make commercial decisions about the terms on which they will offer cover following an assessment of the relevant risks. This is usually informed by the insurer’s claims experience and other industry-wide statistics. The government does not usually intervene in these decisions.
However, the government is determined that insurers treat customers fairly and insurers must comply with all relevant regulations and legislation. This includes the Equality Act 2010 which generally prohibits discrimination based on certain protected characteristics, including race.
The Financial Conduct Authority (FCA), as the independent regulator of financial services firms, requires firms to treat customers fairly under its rules. This includes ensuring that firms meet their obligations under the Equality Act 2010. The FCA actively monitors firms and has robust powers to take action if firms do not comply with its rules.
Individual insurers may take a different view of the relevant factors in determining whether they will offer insurance and at what price. Consumers may wish to contact the British Insurance Brokers’ Association, who can offer guidance on how to look across the insurance market for the best deals and may be able to provide names of specialist brokers.
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