Committee publication · Correspondence · 13 May 2026
Correspondence to the ABI on the Financial Inclusion Strategy evidence session follow-up, dated 4 March 2026
From: Treasury Committee
Inquiry: Financial Inclusion Strategy
Summary
The Treasury Committee requests written follow-up from the Association of British Insurers (ABI) on four substantive topics raised during a Financial Inclusion Strategy evidence session on 4 March 2026: drivers of motor insurance premium costs, rises in multi-occupancy building insurance since Grenfell, escape-of-water risk mitigation, and the financial inclusion strategy's impact on risk-based pricing for customers with pre-existing conditions. Responses requested by 15 April 2026.
Key findings
- Committee seeks data on top five drivers of motor insurance premiums, including impact of claims costs, parts availability, and repairs
- Committee inquires why multi-occupancy building insurance premiums have risen post-Grenfell and why remediated buildings struggle to secure affordable coverage
- Committee requests policy proposals to address escape-of-water risks in new flats to prevent future unaffordable insurance premiums
- Committee asks ABI to explain expected impact of financial inclusion strategy on risk-based pricing and underwriting for customers with pre-existing conditions
Tone
ProceduralTopics
Key actors
Hannah Gurga, Association of British Insurers (ABI), Dame Meg Hillier MP, Treasury Committee
Notable line
“What data can you provide to explain why insurance premiums for multi‑occupancy buildings have risen since Grenfell …”
Key Quotes
“Could you set out the top five drivers of motor insurance premium costs, and provide any supporting data, including the impact of claims costs, parts availability and repairs?”
“What data can you provide to explain why insurance premiums for multi‑occupancy buildings have risen since Grenfell, including which specific risks insurers believe have increased, and why many buildings, even after remediation, are struggling to secure affordable insurance?”
“What policy proposal would help ensure that escape‑of‑water risks are properly addressed, so that new flats do not later face unaffordable insurance premiums?”
“What impact do you expect the financial inclusion strategy to have on risk‑based pricing and underwriting for customers with pre‑existing conditions ?”
Source · parliament.uk record ↗