Jack Straw warns of regulatory threat facing motor insurers
Jack Straw has called on the industry, particularly insurers, to do much more to reform the private motor market or face further government intervention.
At the latest meeting of the All Party Parliamentary Group on Insurance and Financial Services (APPGIFS), which looked at the cost of motor insurance, Mr Straw claimed this type of insurance was different than any other as it was compulsory and an obligation for a citizen.
“It is as an example of delivering a public requirement through the private sector,” he said.
He urged the industry to get to grips with the problems with this market - referral fees, rising cost of personal injury claims and
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