§ Mr. Roger KingTo ask the Chancellor of the Duchy of Lancaster whether he will take steps to reduce the cost of compliance with his Department's regulations under the Insurance Companies Act.
642W
§ Mr. MaudeI am setting up a review of the regulation of non-life insurance business, excluding Lloyd's, with a view to improving the cost effectiveness of regulation and improving the presentation of the related returns required by insurance companies legislation. Lessons from this review will be taken into account in considering the returns required for life insurance business. The review will be carried out by Mr. Geoffrey Hunt, who has been seconded to the DTI from a senior position in the insurance industry.