The Treasury Committee of MPs is calling for views and experiences of the insurance industry since the pandemic ahead of its questioning industry leaders from Aviva, Admiral and the Association of British Insurers (ABI).
MPs will use the submitted views to inform their questioning of Doug Brown, chief executive officer, UK and Ireland Life at Aviva, Charlotte Clark, director of regulation at the Association of British Insurers and Christina Nestares, chief executive officer at Admiral UK next month in Parliament.
The committee added it is likely to explore the impact of inflation on insurance premiums, the conduct of insurers when handling claims, and the size of insurance pay outs.
The MPs are also likely to examine whether firms are making excess profits, competitiveness within the industry, and the regulatory environment.
The committee will analyse the responses to identify themes to inform its work.
Harriett Baldwin MP, chairwoman of the Treasury Committee, said: “Insurers provide a vital service, protecting our most prized possessions from theft, loss and damage.
“However, we’ve heard anecdotal evidence in recent months of premiums rising faster than inflation, insurers refusing to pay out, and difficulties in making claims.
“As a committee, we’d like to hear from consumers on their experiences of the insurance industry since the pandemic. We’ll use these to inform our evidence session on the health and competitiveness of the insurance market with industry bosses next month.”
