Energy: Prices
The question
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential impact of fluctuations in energy prices on the availability of professional indemnity insurance for energy consultants.
Answered by Chris McDonald
The Department for Business and Trade has not conducted a formal assessment on the impact of fluctuations in energy prices on the availability of professional indemnity insurance for energy consultants.
Regulatory bodies like Ofgem monitor the broader energy supply chain for unfair practices and price volatility to bring stability to the market.
The government would always encourage business owners to shop around to find the most suitable insurance coverage, at the best price. Any business that is struggling to secure cover may wish to contact the British Insurance Brokers’ Association (BIBA). BIBA can offer guidance on how to look across the market for the best deals and may be able to provide names of specialist brokers. BIBA can be contacted at: www.biba.org.uk/find-insurance.
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