FCA calls for claims ratios in final add-ons report face renewed criticism
The Financial Conduct Authority’s proposal to impose a requirement for insurance companies that engage in the sale of add-on products to publish claims ratios as a measure of value is expected to face continued criticism.
The FCA, which published the final findings from its market study on the sale of general insurance add-ons on 24 July, has raised questions over the value attached to add-ons and is calling for firms
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Broker
Fair value rules still fail brokers and consumers alike
Four-and-a-half years after the Financial Conduct Authority’s fair value rules arrived, Branko Bjelobaba, principal of compliance consultancy Branko Ltd, argues inconsistent data and vague metrics still make it difficult for brokers and consumers to compare insurance products properly.
Climate change puts brokers centre stage
With floods, heatwaves and subsidence rewriting the rules of risk, Caroline Elliott-Grey, senior product manager for UK and Ireland at LexisNexis Risk Solutions, argues brokers who harness property-level insights can build trust, protect clients and prove their value in a volatile market.
UK holidaymakers put safety first amid Iran war
Geopolitical tensions have made UK travellers prioritise health and safety abroad over finding the cheapest travel insurance policies, according to a survey from broker AllClear Travel Insurance.
Could the Gallagher and PIB deal be back on?
Deputy Editor’s View: Whispers at the British Insurance Brokers' Association conference earlier this month suggest Gallagher could be willing to buy PIB again, less than a year after plug was pulled on a deal and the latter refinanced.
Throwback Thursday: Brokers lambasted by PM
Insurance Post’s Throwback Thursday steps back in time to May 1981 to remind you what was going on this week in insurance history when a former prime minister was complaining about brokers.
Slight dip reported in number of brokers actively recruiting
Nearly three quarters of brokers are currently recruiting for new employees, according to Aviva’s latest Broker Barometer.
Allianz Broker ‘punching below its weight’
Allianz Broker’s managing director, Glyn Hughes, has said the business is “punching below its weight” at the moment and has come in with “high ambitions”.
Allianz Partners enters travel gadget market
Allianz Partners has signed a long-term partnership with travel broker Coverwise to launch gadget protection for UK travellers.