FCA data shows rise in average home insurance payouts
Process piloted with 31 insurers is set to be made compulsory for all firms and most products.
The Financial Conduct Authority (FCA) has revealed that claims frequencies fell for home insurance in 2018 while average claims payouts increased.
The findings came as the regulator collated data from 31 insurers for the year ended 31 August.
The research was part of the watchdog’s pilot project, launched in 2016, into measuring value in the general insurance market.
The FCA has also opened a consultation on making all firms submit general insurance value measures data for publication and
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