Analysis: FCA bares its teeth on residential property insurance
Martin Friel explores the likelihood of intervention by the watchdog as premiums go up in a market that has “not worked well” for more than a decade.
The Financial Conduct Authority has been getting pretty handy with its ‘Dear CEO’ letters lately. They are being issued at such a rate that brokers and insurers risk becoming snow-blind in the blizzard of paper. The watchdog’s latest target? The residential property owners’ market.
This particular ‘Dear CEO’ letter was prompted by Michael Gove, Secretary of State for Ministry of Housing, Communities & Local Government, who wrote to the regulator asking them to establish – within six months –
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