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This 500-word blog post discusses the confirmed guidance for insurance companies to consider the impact of the coronavirus pandemic on the value of their products as set out by the Financial Conduct Authority (FCA).
Written on 4 June 2020.
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Financial services regulator, the Financial Conduct Authority (FCA) has confirmed guidance for insurance companies to consider the impact of the coronavirus pandemic on the value of their products.
Sheldon Mills, Interim Executive Director of Strategy and Competition at the FCA, said:
“Customers should expect value from the insurance products that they buy, but the exceptional circumstances of coronavirus may have materially reduced the value they are getting.”
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