Biba welcomes FCA stance on consumer vulnerability
Insurance sector praised as ahead of the game when giving consumers easy access to products.
The British Insurance Brokers' Association (Biba) has welcomed an FCA report into consumer vulnerability which called for more work to be done by financial institutions to help vulnerable consumers.
The FCA's study found that many consumers in vulnerable circumstances are not receiving fair treatment from their financial services providers.
Difficult
It stated: "Whilst there are examples of good practice in some firms, some people find communicating with providers or accessing products difficult
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