§ Mr. HawkinsTo ask the Chancellor of the Exchequer (1) how much he estimates the loss to each consumer to be when motor insurance policies are cancelled; [130553]
(2) if he will estimate the increase in the number of uninsured drivers resulting from each 10,000 cancelled policy notices; [130556]
(3) how many policy cancellation notices were issued in the last two years; and what forecast he has made for such notices issued in the next two years; [130551]
(4) what proportion of policy cancellation notices were returned unopened to the Policy Protection Board in each of the last five years. [130552]
§ Miss Melanie Johnson[holding answer 17 July 2000]: No information is available on these matters.
§ Mr. HawkinsTo ask the Chancellor of the Exchequer (1) what action he is taking to ensure that the reserves available to the Policyholders' Protection Board are used appropriately to protect the policyholders of Drake Insurance plc; [130554]
(2) what financial reserves are available to the Policyholders' Protection Board to assist consumers; and what assessment he has made of the adequacy of these reserves; [130555]
(3) what action he has taken to ensure that the Policyholders' Protection Board warns motor policy holders with Drake Insurance plc that they have no motor insurance; [130558]
(4) if he will use his powers under the Policyholders' Protection Act 1997 to intervene to protect the policyholders of Drake Insurance plc. [130550]
§ Miss Melanie Johnson[holding answer 17 July 2000]: It is for the Policyholders Protection board (PPB) as an independent statutory body to decide how best to use its statutory powers to protect policyholders. The PPB raises funds through a levy on authorised insurers and its accounts are published annually. I have arranged for a copy of the most recent Report and Accounts for the year ended 31 March 1999 to be placed in the Library of the House.
Policyholders whose policies are to be cancelled are given formal notice by their insurers (in this case the provisional liquidator), not the PPB.