Committee publication · Correspondence · 14 July 2026
Correspondence from Chair to Money Advice Scotland on consumer finance oral evidence follow-up, dated 29 June 2026
From: Treasury Committee
Inquiry: Consumer finance
Summary
Follow-up letter from Treasury Committee Chair to Money Advice Scotland's Chief Executive requesting written responses to three areas raised during oral evidence on 24 June 2026: consumer harms in insurance including vulnerable groups and AI impacts, views on FCA intervention, and the concept of basic insurance products. Responses requested by 6 July 2026 for consideration in FCA evidence session.
Key findings
- Committee seeks clarification on main consumer harms in insurance market, specifically identifying uninsurable consumer groups
- Committee requests Money Advice Scotland's assessment of AI and hyper-personalisation impacts on insurance consumers
- Committee seeks Money Advice Scotland's evaluation of FCA's intervention approach in the insurance market
- Committee explores feasibility of basic insurance products accessible through mechanisms similar to basic bank accounts
Tone
ProceduralTopics
consumer-financeinsurancefinancial-regulationartificial-intelligence
Key actors
Dame Meg Hillier MP, Janine Rennie, Money Advice Scotland, Treasury Committee, Financial Conduct Authority
Notable line
“To ensure your responses are considered for the oral evidence session with the FCA, we are working on a tighter deadline than usual.”
Key Quotes
“During the session, the Committee asked the panel to respond in writing to some questions.”
“In line with the Committee's usual practice, in due course I will be placing this letter and your response in the public domain.”
Source · parliament.uk record ↗