’We have launched this inquiry to find out if the insurance market is working for the many people who buy home and travel insurance,’ says chair
The House of Lords Financial Services Regulation Committee has launched a new inquiry into the regulation of the UK’s consumer insurance market.
The inquiry is focused on how the market for home and travel insurance is regulated and covers distribution, claims handling, as well as the enforcement of these regulations and the resolution of disputes between insurance firms and consumers.
The deadline for the submission of written evidence is 5pm on 26 June 2026.
Baroness Noakes DBE, chair at the Financial Services Regulation Committee, said: “We have launched this inquiry to find out if the insurance market is working for the many people who buy home and travel insurance.
”We want to find out whether the current regulations are effective, whether they are properly enforced, and whether there is anything that the regulators and government need to do differently. We welcome evidence and views from anyone with expertise or interest in this area.”
Questions raised
The committee is seeking evidence on the following questions:
- What are the key areas of concern for consumers in the regulation of home and travel insurance?
- What impact has the Financial Conduct Authority’s (FCA) Consumer Duty had on the consumer insurance market?
- Does the current regulation of insurance distribution and sales ensure that consumers purchase appropriate home and travel insurance? Are there any changes that should be made to the regulatory requirements?
- Are there any groups of consumers that face challenges in accessing suitable insurance? Do the current regulations effectively protect these groups of consumers?
- Are consumers’ insurance claims handled fairly?
- How effectively are the current regulatory requirements enforced by the FCA?
- What is the role of the Financial Ombudsman Service (FOS) in protecting consumers in the insurance market and how effectively does it resolve disputes?
- Are there any gaps in the current legislation or regulatory framework for the consumer insurance market?
His career began in 2019, when he joined a local north London newspaper after graduating from the University of Sheffield with a first-class honours degree in journalism.
He took up the position of deputy news editor at Insurance Times in March 2023, before being promoted to his current role in May 2024.View full Profile
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