FCA confirms coronavirus product value guidance

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The regulator expects all insurers and brokers to have taken necessary action by 3 December this year.

The Financial Conduct Authority (FCA) has today (3 June) confirmed guidance for insurance firms to consider the impact of Covid-19 on the value of their insurance 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.

“Today’s guidance is designed to protect consumers by

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Markerstudy rebrands broking arm

Markerstudy Broking has been renamed to Markerstudy Distribution to encapsulate the range of products and services across the whole division, the business has confirmed.

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