FCA gives 1 April deadline for renewal transparency
New rules for personal lines make disclosure of last year’s premium compulsory at renewal.
The Financial Conduct Authority (FCA) has issued its proposed new rules and guidance for general insurance renewals in the retail market.
The watchdog first consulted on its proposals in December last year.
According to the FCA the proposals were intended to address concerns about levels of consumer engagement and the treatment of consumers by firms at renewal, and the lack of competition that results from this.
Feedback
In December it asked for feedback on requiring firms to (for all personal
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