FCA proposes measures to increase value of GI products
Regulator asks industry for feedback.
The Financial Conduct Authority (FCA) has published a discussion paper where it sets out and invites comments on options for the production of product value data.
The regulator said the paper followed concerns about poor value and a lack of effective competition in the general insurance market.
An FCA market study in July 2014 showed that competition in the general insurance add-ons market was not working well for many customers, who were paying too much for products with poor value.
Transparenc
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