Article preview: Loyal customers being charged more for their insurance policies is an important theme being explored by the City regulator. The Financial Conduct Authority (FCA) looked in depth at how general insurance providers charge their customer for home and motor insurance. The work is part of a new market study which will conclude supervisory work on insurance pricing practices. According to the FCA, a package of measures is necessary following their initial work in the area. These measures include addressing conduct by firms, a market study on general insurance pricing practices, and a wider discussion paper on the fairness of pricing in financial services.
General insurance market study launched
This 790 word blog post explains the reasons behind a Financial Conduct Authority (FCA) market study due to look at pricing practices within the general insurance sector. Includes comments from Andrew Bailey, the FCA’s Chief Executive and Gillian Guy, Chief Executive of Citizens Advice. Written on 4th November 2018.
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