Select committee: Financial Services Regulation Committee
Conclusion 23
2nd report - Home and travel insurance regulation: more for the FCA to do
Published 23 Oct 2026
Paragraph 115
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 recognise that supervisory interventions may resolve problems within individual firms more quickly than formal enforcement action. However, resolving problems privately and on a firm-by-firm basis limits the wider impact of the FCA’s action. It reduces the public deterrent effect, gives other firms less clarity about unacceptable practices, and is less likely to drive an industry-wide improvement in standards.
From: Financial Services Regulation Committee, 2nd report - Home and travel insurance regulation: more for the FCA to do, paragraph 115, 23 October 2026
Government response
Government response awaited: deadline 23 December 2026.