Compliance director claims FCA attempting the impossible

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A discussion launched by the Financial Conduct Authority (FCA) to explore options for a measure or measures of the value of add-on products in general insurance is fraught with problems according to a compliance specialist.

Mike Cranny, the director of Create Solutions Training and Compliance, told Insurance Age that measuring value isn't just difficult but impossible.

The FCA said its first market study in 2013 looked at the effect of the add-on mechanism in general insurance markets and found

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