FCA finds firms failing on premium finance advice
Regulator says insurers and brokers sometimes fail to provide enough information about payment options to customers.
A thematic review by the Financial Conduct Authority (FCA) shows that insurers and insurance intermediaries do not always provide customers with clear information about the different payment options available when buying insurance.
The FCA review, which included 13 insurers and 30 insurance intermediaries, focused on the online sale of home and car insurance and followed the customer journey up to the point of payment.
Linda Woodall, acting director of supervision at the FCA said: "Consumers
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