The Treasury select committee has condemned the huge pay rises awarded to the chief executives of Britain's biggest insurance companies.
The directors of the UK's largest insurers will be asked to account to MPs for any gigantic pay rises awarded to their bosses.
This follows accusations that the directors of Britain's biggest insurers have little regard for their customers and enjoy huge pay rises.
The Treasury select committee chairman John McFall told chief executives - including those at Legal & General and Aviva - that rises awarded in 1999 and 2002 came when "the industry was going downhill like a slalom skier".
He added: "How are these rises justified in an industry with the heart taken out of it?"
McFall also lambasted the industry's attitude to customers, which indicated that it did not have a "duty of care" after products were sold.
McFall commented: "The industry consistently puts its own interests ahead of consumers."
The committee heard that Legal & General chief executive David Prosser received a 55% pay rise to £1.3m between 1999 and 2002. And Aviva chief executive Richard Harvey was awarded a 45% pay rise.
