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This briefing answers some of the most common questions the Library receives about insurance services.

How is insurance overseen in the UK?

The Financial Conduct Authority regulates the insurance industry, although the Competition and Markets Authority may investigate situations where there is a potential threat to competition.

The Financial Ombudsman Service oversees complaints from consumers that insurers can’t resolve.

The Association of British Insurers and the British Insurance Brokers’ Association are the main industry bodies.

How do I complain about an insurer?

There is a standard approach for complaints about financial services that customers may choose to use as an alternative to more formal legal action. The customer must raise their complaint with the insurer first. If that doesn’t resolve the situation, they may raise the matter with the Financial Ombudsman Service.

How do I find the best policy?

Price comparison websites are useful for many if not most people and situations. But for specific circumstances – such as people with disabilities or those trying to insure a non-standard vehicle – insurance brokers may be able to find better details. The British Insurance Brokers’ Association’s Find insurance service may help customers to find specialist insurers.

Other topics

The briefing paper also covers such issues as:

  • dealing with automatic renewal of insurance policies
  • insurance arrangements for subsidence and flooding
  • arrangements for driving UK-insured vehicles abroad
  • how insurance has responded to the coronavirus pandemic

Please note that the information in this briefing paper is provided to Members of Parliament in support of their parliamentary duties. It is not intended to address the specific circumstances of any particular individual. It should not be relied upon as legal or professional advice, or as a substitute for it.

Documents to download

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