FCA ‘not planning market-wide’ changes to premium finance
The Financial Conduct Authority has this morning (3 February) confirmed it is not planning any market-wide action around premium finance, after a report suggests firm-by-firm action has saved consumers around £157m per year.
According to the FCA’s report, interest rates for premium finance have fallen by an average 4.1 percentage points since 2022, saving consumers £8 on a typical motor policy and £3 on a typical home
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 News
FCA still sees 'room for improvement' within UK insurance
The Financial Conduct Authority’s deputy CEO Sarah Pritchard has said the motor, home and travel insurance market has "room for improvement," but ruled out undertaking any sweeping action.
FCA hits Markerstudy with growth restrictions
The Financial Conduct Authority and Markerstudy have agreed a cap on customer numbers for the insurance group while concerns raised by the regulator are addressed.
How Tesco is using Clubcard data to shake-up insurance
Tesco Insurance and Money Services has revealed how it will leverage one of the UK’s most powerful retail data assets, the Clubcard loyalty programme, to reshape the insurance market.
Aviva Private Clients launches in Lloyd’s
Aviva has launched its high-net-worth proposition in the Lloyd’s market.
HF confirms swoop for loss adjuster’s legal services arm
Specialist insurance law firm HF has acquired a major part of the assets of Crawford & Company Legal Services including 90 people moving across as part of a TUPE consultation process.
Plum and Qover; Zurich's £1.3m AI investment; Biba's keynote speaker
Friday Round-Up: Insurance Post wraps up the major insurance deals, launches, investments and strategic moves of the week.
Axa builds more than 60 agentic AI tools
Axa Group is currently working on more than 60 agentic artificial intelligence use cases, according to group chief data, AI and innovation officer Andreas Schertzinger.
Brits expect insurers to raise financial abuse awareness
Research from Axa UK has revealed that there is a growing public expectation among UK adults for businesses to play a role in financial abuse awareness.