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Select committee: Financial Services Regulation Committee

Conclusion 18

2nd report - Home and travel insurance regulation: more for the FCA to do Published 23 Oct 2026 Paragraph 91

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)
We believe that the current regulatory regime is broadly capable of addressing the issues identified during this inquiry, notwithstanding the emerging risks arising from consumers’ growing use of unregulated AI tools. We do not consider that further prescriptive rules are generally the answer. If effectively implemented, supervised and enforced, the Consumer Duty has the potential to address the concerns identified and improve outcomes for home and travel insurance consumers.

From: Financial Services Regulation Committee, 2nd report - Home and travel insurance regulation: more for the FCA to do, paragraph 91, 23 October 2026

Government response

Government response awaited: deadline 23 December 2026.