FCA sinking 'into a quicksand’ – brokers react to latest threat on fair value
The Financial Conduct Authority is sinking 'into a quicksand’ as it ups the ante over insurance firms failing to offer customers fair value.
Last week, the watchdog said it would consider using tools at its disposal to protect customers being offered poor value products.
The FCA believes latest claims data shows not all insurance firms are offering value in personal lines, despite companies stating nearly all products offer fair value in feed back to the regulator.
Trident chairman Robert Marshall said the regulator is becoming a ‘policy comparison site’ as it handles the submissions from across the insurance industry.
He added:
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