FSA warns brokers over mis-selling of add-ons
Regulator claims customers may have been sold add-ons and extras they neither want nor need
The Financial Services Authority (FSA) has issued a warning over what it deems to be the main risks of consumer detriment in the general insurance market in its Retail Conduct Risk Outlook for 2012.
In particular it has flagged up the difference between initial premium and the price the customer actually has to pay; the manufacture of products that are of little use to those who buy them; and the sale of add-on products.
This is not the first time the sale of add-ons has been the focus of
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