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Select committee: Financial Services Regulation Committee

Conclusion 14

2nd report - Home and travel insurance regulation: more for the FCA to do Published 23 Oct 2026 Paragraph 80

Financial Services Regulation Committee Regulation of the consumer insurance market All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗

Conclusion (the committee's words)
It is not clear that enforcing minimum cover levels in home and travel insurance products would improve consumer outcomes. Such an approach could restrict competition, innovation and consumer choice and produce unintended consequences for product quality and accessibility. Product quality concerns should instead be addressed through more effective application and enforcement of the Consumer Duty.

From: Financial Services Regulation Committee, 2nd report - Home and travel insurance regulation: more for the FCA to do, paragraph 80, 23 October 2026

Government response

Government response awaited: deadline 23 December 2026.