FCA warns insurers to protect customers during cost-of-living squeeze
As the soaring cost of living is putting pressure on households, the Financial Conduct Authority has instructed insurers to protect customers from unnecessary products or add-ons and unfair penalties.
The watchdog has written to insurance industry CEOs warning that wherever poor practice is found, it will “quickly intervene” to protect customers from harm.
This comes as the watchdog is concerned
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 Personal
John Lewis becomes FCA-authorised broker
John Lewis Money has become a Financial Conduct Authority-authorised insurance broker.
Axa’s Lloyd on the power of fearless females
Drawing on her career championing inclusion, Jo Lloyd, customer, proposition and risk director of Axa Retail, outlines how the insurer’s Fearless Females network, cross-industry partnerships and candid talks on bias are boosting representation and reshaping culture.
Admiral’s insurance profit surpasses £1bn
Admiral’s UK insurance pre-tax profit landed at just over £1bn for the first time, with motor making up the vast majority of that figure.
Which? warns insurers are failing storm-hit homeowners
Insurers have been accused by Which? of shirking their responsibilities for paying out policyholder's claims when their houses suffer damage due to storms and other extreme weather events.
Markerstudy’s Profit on keeping women in insurance working
Sarah Profit, customer business partner and co-chair of Women’s Network at Markerstudy, argues insurers must turn inclusion promises into practical menopause support to retain experienced female talent.
Sign up to attend the Underwriting Club property meeting
Property underwriting is facing sustained pressure as loss volatility, claims inflation and emerging risks collide with a softening market and increased competition.
Big Interview: Owen Morris, Aviva
After the £3.7bn acquisition of Direct Line Group, Scott McGee catches up with the man responsible for the joint venture, Aviva’s CEO of UK personal lines, Owen Morris.
Whole-system response required to fight ghost-broking
Trade Voice: Mark Allen, assistant director, head of fraud and financial crime at the Association of British Insurers, outlines why a whole‑system response is needed to tackle the rise in ghost broking.