Financial Services Regulation Committee
2 September 2026
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Committee House of Lords
00:00 - 00:36
Speaker 2
Welcome to today's meeting, which is the ninth oral evidence session as part of our inquiry into the regulation of consumer insurance market. And I want to thank Mr. Geale and Mr. Knight from the FCA for attending. The session is open to the public, it's broadcast live and is subsequently accessible via the parliamentary website. A verbatim transcript will be taken of the evidence and will be put on the parliamentary website. So could I ask you, Mr. Geale and Mr. Knight, to introduce yourselves for the record and then we'll proceed to questions.
00:36 - 00:43
Speaker 4
Yes, good morning. My name is David Geale. I'm executive director for consumers, payments and competition at the Financial Conduct Authority.
00:43 - 00:49
Speaker 3
And I'm Chris Knight. I'm the newly appointed director of insurance at the FCA.
00:49 - 01:26
Speaker 2
Excellent. So could we just start with a bit of background of the FCA's regulation of consumer insurance, the consumer insurance market, in terms of how many people involved in the different activities of regulation, supervision, policy and enforcement? And can within that, can you give an estimate of the proportion of the FCA's resources dedicated to consumer insurance that is in fact deployed in relation to travel insurance and home insurance, which are the subjects of this inquiry?
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