Today, the Queen set out the Government's legislative agenda for the parliamentary term.
Huw Evans, Director General at the Association of British Insurers said:
“Legislation outlined in today’s Queen’s Speech has the potential to address urgent challenges facing the UK. These include ensuring a building control system that is fit for purpose, taking firm decisions on social care funding and pushing forward progress on climate change. We also welcome that the insurance and pensions sector will be included in the dormant asset scheme to ensure that an estimated £2.1bn of unclaimed assets can be made available to good causes with the asset owners having the right to reclaim their funds at any point. It is disappointing to see no reference to tackle the rapid rise of online financial scams and we hope this is something the Government will address in the Online Safety Bill.
“As we focus on the recovery from the pandemic insurers and long-term savings providers have a vital role to play in all of these areas and we will work with the Government on behalf of our world-leading sector to deliver the best results for our customers, wider society and the UK economy.”