FCA warns insurers to support customers’ wellbeing during cost of living crisis
The Financial Conduct Authority has expressed concerns, in a new 'Dear CEO' letter, that customers may cut-back on the insurance they need as pressure mounts on household budgets.
Whilst the government has announced further support for consumers and businesses for energy costs and in the September fiscal event, including a two-year energy-price guarantee for households, the authority has recognised that some people could still cut back on insurance cover.
The watchdog has acted and Sheldon Mills, executive director – consumers and competition, has written to the insurance industry CEOs to make sure their customers are protected from unnecessary products of add-ons and
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@insuranceage.co.uk or view our subscription options here: https://subscriptions.insuranceage.co.uk/subscribe
You are currently unable to print this content. Please contact info@insuranceage.co.uk to find out more.
You are currently unable to copy this content. Please contact info@insuranceage.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@insuranceage.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
More on Insurer
Beazley addresses rise in AI-related cyber threats with new endorsement
Beazley has launched an AI ‘clarifying endorsement’ for its cyber product, which it claims will offer clients peace of mind as to how AI-related cyber attacks are addressed within their existing cover.
People Moves: 14-18 September 2026
Follow the latest personnel moves in insurance.
International insurer names third UK CEO in nine months
Sompo International has announced that Nicolas (Nic) Berg is to take over as CEO of its UK insurance business, effective 1 October, subject to regulatory approval.
Arag confirms growth in first combined results after Das deal
Arag has posted £244m of total income for last year in the inaugural results including the former Das UK business.
Ex-Lloyd’s and RSA boss Jon Hancock to retire from AIG
Jon Hancock will retire from being CEO of general insurance at AIG at the end of the year, the insurer has confirmed.
Q&A: PremFina bosses Bishop and Aylott
PremFina’s leaders reveal if the premium finance provider has delivered on its promise to be profitable this year, and explain the thinking behind the string of inward investments, current broker relationships and plans for the future. Emmanuel Kenning poses the questions.
Allianz moves to help brokers with cross-border construction risks
More UK-headquartered businesses are taking on construction projects across borders, according to Allianz Commercial as it refreshes its proposition for brokers and clients.
Bridgehaven signs capacity deal with Mission MGA
Hybrid insurer Bridgehaven Specialty UK has announced a strategic partnership with Amulet Real Estate, the newly established managing general agent, to underwrite a portfolio of specialist commercial property and liability insurance.