Insurers face fresh broker scrutiny on fair value amid latest FCA data
Brokers have been told the Financial Conduct Authority’s latest release of fair value data raises searching questions over whether their insurer partners are offering fair value.
On Friday last week the FCA released a tranche of fresh claims data on personal lines.
The regulator is “concerned about how the current picture presented in the data appears to compare with firms stating that virtually all products are providing fair value”.
The FCA has now vowed to consider using its powerful tools to bring the insurance industry into line, making sure customers get fair value.
A number of products are causing the regulator concern, with premium finance right at the top of
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