Civil Liability Act report on savings provision
Read the full outcome
Detail of outcome
The government would like to thank stakeholders for responding to this consultation. This document summarises the feedback received and the changes that the government has made to the proposed legislation in response, as well as the next steps for implementing the legislation.
Original consultation
Consultation description
This technical consultation seeks comments on the draft regulations that will require firms who sell relevant insurance policies to provide information to the Financial Conduct Authority (FCA). This information will be used in a report by the Government which assesses whether firms have passed on savings arising from the Civil Liability Act 2018 to their customers. The consultation focuses on the scope of the requirements and methodology for calculating the relevant information.
The regulations being consulted on will form the final statutory instrument (SI) with possible revisions following consultation. A high level summary on the role of the FCA is included in the consultation document. Information sharing processes and other assistance to be provided by the FCA will be agreed between the Treasury and the FCA directly.
Documents
Updates to this page
Last updated 31 October 2019 + show all updates
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Response document published.
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First published.