Committee hears evidence on commercial insurance and reinsurance regulation
The Industry and Regulators Committee will hear from the Chairman of Hiscox, a major UK insurer, as part of its inquiry into commercial insurance and reinsurance regulation. The Committee will ask whether regulatory policy is well-designed and proportionately applied to the sector, as well as discussing the effects of regulation on customer interests and the market’s global competitiveness. The Committee will also question whether Brexit provides an opportunity to make changes to the regulation of the London Market, and how a competitiveness objective for the UK financial regulators would function.
Possible questions include:
- What improvements could be made to the UK’s regulation of the London Market?
- Is there scope and appetite for changes to insurance regulation post-Brexit?
- What is the effect of the UK’s approach to insurance regulation in encouraging or discouraging innovation?
- Should an objective to promote the competitiveness of the UK be added to regulators’ remits?