Source · Select Committees · Business, Innovation, Science and Trade Committee
Recommendation 48
48
With greater and greater private ownership of public risk, there has never been a greater...
Conclusion
With greater and greater private ownership of public risk, there has never been a greater public interest in ensuring that private firms are able to prepare for disruption and recover quickly when it occurs. Risk is inevitable in private enterprise, and the public purse should not be substituted for an effective market. However, the increasingly complicated threat landscape means that the time is now ripe for Government to look again at the insurance market to ensure that it is functioning adequately. (Conclusion, Paragraph 164)