FCA sees 13.6% drop in GI complaints
Complaints to the Financial Conduct Authority about general insurance and "pure protection", a group that includes payment protection insurance, decreased by 13.6% in the first half of 2015.
Between January and June, there were 1,204,783 complaints in this category. Overall, the FCA received 2,138,209 new complaints in that period which was a 2.1% drop on the previous six months' figure.
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 Regulation
Contents insurance flagged for causing ‘greatest consumer harm’
The Treasury Committee has warned that contents insurance is among the areas where financial exclusion can cause the “greatest consumer harm”, with urgent action needed to protect customers.
Insurance Compliance’s Allison questions insurance regulation
David Allison, head of intermediary consultancy south at Insurance Compliance, said improving customer understanding is an unsolvable problem, and questioned whether general insurance should ever have been regulated by the Financial Conduct Authority.
Time:To – Axa’s Crane on how to meet regulatory requirements
How artificial intelligence can be used to satisfy the Financial Conduct Authority is outlined by Mike Crane, managing director of Axa Commercial, in the latest Insurance Post Time:To video.
Big Interview: Chris Knight, Financial Conduct Authority
The Financial Conduct Authority’s new director of insurance, Chris Knight, speaks exclusively to Insurance Post about premium finance, why enforcement action against firms that fail to comply with the Consumer Duty is looming plus whether the watchdog could soon scrutinise ChatGPT.
Why insurers belong in the room before infrastructure is built
Trade Voice: Agata Gorecka, general insurance policy adviser at the Association of British Insurers, argues insurers should be brought into national infrastructure planning from the outset.
FCA set to simplify fair value measure data reporting
The Financial Conduct Authority has proposed plans to reduce the reporting burden on firms surrounding the fair value measures data.
Staff will reject ‘Ask Jeeves’ AI tools if options are limited
Ed Jackson, chief commercial officer at MGA HomeProtect has urged firms not to give staff “the Ask Jeeves equivalent of artificial intelligence” and establish some key principles in how to use the technology from the outset.
FCA weighs AI challenge as ChatGPT reshapes insurance distribution
The Financial Conduct Authority is considering a review of whether its regulatory perimeter needs to expand as growing numbers of consumers turn to artificial intelligence tools such as ChatGPT for help choosing an insurance policy.