Jonathan elected chairman of All Party Parliamentary Group on Insurance & Financial Services

09/06/10

The All Parliamentary Group on Insurance and Financial services has elected Jonathan as it's new Chairman.

The group was formed in 1991 to improve communications between the insurance industry and Parliament. The group has tackled  a variety of issues since it's inception and has played a key role in the formation of Pool Re,  the introduction of equalisation reserves, securing compensation for people miss-sold home reversion plans and getting tougher action on uninsured driving.

Its brief now ranges across the entire financial services sector. It meets frequently with the Financial Services Authority and a wide range of organisations representing interests in the insurance and wider financial services sector.

The election of Jonathan has been seen as a huge boost to the group. He brings with him his experience from serving as corporate affairs minister in the early 1990s and his work in the European Parliament after serving as Conservative MEP for Wales from 1999 to 2009.

Jonathan commented: "The group has a vital role to play in raising and debating a wide range of issues affecting the insurance industry and the financial services sector, an area which is seeing radical changes in the way it is regulated. These changes must be fully understood and how they will impact the industry."