Commons Sense

House of Commons · Written Ministerial Statement

Motor Insurance

16 October 2024 · Department for Transport

Proposed by Louise Haigh Lab Sheffield Heeley

EconomyTransport

Summarised by AI from the official record, so it can contain mistakes.

View on Parliament.uk

At a glance

Key points

  • Louise Haigh is addressing rising motor insurance premiums in the UK.
  • Haigh announces the co-chairing of a new cross-Government Taskforce on motor insurance.
  • The taskforce will develop short-term and long-term actions to stabilise or reduce motor insurance costs.

Issue summary

Louise Haigh is addressing rising motor insurance premiums in the UK, which have increased at higher rates compared to other economies.

Action requested

Haigh announces the co-chairing of a new cross-Government Taskforce on motor insurance with the Economic Secretary to the Treasury. The taskforce will identify factors contributing to premium increases and develop short-term and long-term actions to stabilise or reduce costs while maintaining appropriate cover levels.

Key facts

  • Motor insurance premiums have risen at higher rates in the UK than other comparable economies.
  • The Taskforce includes ministers from several departments, FCA, CMA, industry representatives, consumer champions and relevant groups.
  • Specific focus on ethnic minorities, low-income earners, elderly, and young drivers.
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