Treasury Committee launches inquiry into EU Insurance Regulation

13 September 2016

The Treasury Committee has agreed the terms of reference for its inquiry into Solvency II, a harmonised EU-wide insurance regulatory scheme.

Chair's comments

Commenting on the inquiry, Rt Hon Andrew Tyrie MP, Chairman of the Treasury Committee, said:

"Brexit provides an opportunity for the UK to assume greater control of insurance regulation.

The Solvency II Directive came into force in January, only after a heap of concerns had been expressed about it. Among its manifest shortcomings was the failure to secure value for money over its implementation.

The Treasury Committee will now take a look at the Brexit inheritance on insurance to see what improvements can be made in the interests of the consumer."

Further information

Image: iStockphoto

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