FCA focus on fair value causes confusion for brokers


Research by Ecclesiastical shows 40% of brokers do not understand how their business will be impacted ahead of the new product governance rules coming into force on 1 October.

Two in five brokers are in the dark about how the Financial Conduct Authority’s (FCA) crackdown on fair value will affect their business, Insurance Age can reveal.

Research by Ecclesiastical Insurance showed that 40% of brokers disagreed when they were asked if they understand how the FCA’s focus on fair value will impact their business, with over a third disagreeing strongly.

The FCA’s new rules on product governance, which apply to most insurance contracts including commercial insurance

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@insuranceage.co.uk.

You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Insurance Age? View our subscription options

If you already have an account, please sign in here.


Sign up and gain access to five complimentary news articles every month.

Already have an account? Sign in here

This address will be used to create your account

Review of the Year 2023: Acrisure’s Mark McIlquham

In the first of our ‘Review’ series Mark McIlquham, president of Acrisure UK Retail, reflects on whether the 15-year cycle will see a large insurer buy a large broker, and how he’d recast the Barbie film with senior figures from its ‘network dream team’

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: