FCA sinks teeth into add-ons
Regulator slams competition, claims ratios and sales systems.
The Financial Conduct Authority (FCA) has proposed a shake-up of the £1bn general insurance add-on markets in a savage review of their performance.
The watchdog's plans include banning pre-ticked boxes and forcing firms to publish claims ratios.
The regulator has also proposed breaking the point of sale advantage for guaranteed asset protection (GAP) insurance, usually offered alongside car sales.
Christopher Woolard, director of policy, risk and research at the FCA, said: "There's a clear case
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