On 8 December 2015, at a meeting with Ministers, representatives of leading insurers committed to pass on savings to consumers through lower premiums following the implementation of Government reforms. The Government will be monitoring the industry’s reaction to these reforms closely.
The meeting on 8 December 2015 was the first Ministerial meeting with insurers to discuss the reforms announced in the Autumn Statement on 25 November. Lord Faulks subsequently met representatives from the claimant lawyer sector at the end of January 2016. Officials had previously met with both insurers and claimant lawyer representatives to discuss the reforms.