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The Treasury have published a consultation document which seeks views on "Strengthening the administration regime for insurers...". See here. The report notes:
"This consultation seeks views on Government proposals to improve the protection and payment
of benefits for holders of insurance contracts with an insurer facing financial difficulties, in
particular addressing gaps in protection that remain in the administration regime for insurers in
comparison to the liquidation regime. The Government proposals include:
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...