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Motor Vehicles: Insurance

Question for HM Treasury

UIN 20350, tabled on 16 December 2015

To ask Mr Chancellor of the Exchequer, by what mechanism any savings made by insurance companies as a result of a change to the small claims limit for soft tissue road traffic accident injuries will be passed on to policyholders.

Answered on

5 January 2016

The pricing of insurance products is a commercial matter for individual insurers in which the Government does not seek to intervene. The motor insurance market is intensely competitive and the Government therefore expects that the insurance industry will pass on savings to consumers.

Some insurers have already committed to pass on all savings to consumers as a result of the proposed changes.

Answered by

Named day
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