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Insurance Companies

Volume 981: debated on Monday 24 March 1980

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asked the Secretary of State for Trade (1) if he remains satisfied that the efforts of insurance companies to control the activities of their agents is such that no need for legislation on the matter exists; and if he will make a statement;(2) if he is satisfied that the consumers' interest is protected in dealings with those insurance intermediaries not covered by the Insurance Brokers Registration Act.

The great majority of policyholders are satisfied with the service they get both from insurance companies and from insurance intermediaries and agents. But, while I am doubtful whether there is a need for legislation, my Department is in continuing touch with the insurance industry about the conditions under which all forms of intermediary perform their services, and the protection afforded to the insurance consumer.