FCA sinking 'into a quicksand’ – brokers react to latest threat on fair value
The Financial Conduct Authority is sinking 'into a quicksand’ as it ups the ante over insurance firms failing to offer customers fair value.
Last week, the watchdog said it would consider using tools at its disposal to protect customers being offered poor value products.
The FCA believes latest claims data shows not all insurance firms are offering value in personal lines, despite companies stating nearly all products offer fair value in feed back to the regulator.
Trident chairman Robert Marshall said the regulator is becoming a ‘policy comparison site’ as it handles the submissions from across the insurance industry.
He added:
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 Insight
Ex-Clear boss Lickens joins Konsileo as chair
After retiring from Clear Group at the close of 2025, Howard Lickens has taken up the post of chair at Konsileo.
FCA launches AI review with Sheldon Mills at the helm
Sheldon Mills, formerly of the Financial Conduct Authority, is set to lead an FCA review into the implications of advanced AI on consumers, retail financial markets and regulators.
Prestige CEO hails ‘landmark’ AUB deal
“Partnering with AUB Group gives us an exceptional platform to accelerate our growth, invest further in our people and services, and expand our presence across our current markets, while retaining the independence and culture that have been central to our success.”
Addept launches rental fraud defence product
Addept Insurance Services has launched a specialist landlord legal protection solution addressing the impact of property title fraud and illegal sub-letting by tenants.
Tysers and Movo owner AUB to acquire Prestige creating £720m UK business
AUB Group has agreed to buy 95.9% of Prestige Insurance Holdings for A$432m (£219m).
Brit launches integrated cyber and financial institutions cover
Brit has rolled out joined up cover across cyber, professional indemnity, directors’ and officers’ liability, and crime in an integrated package for financial institutions.
Coversure opens tenth office in a year
The Coversure network, part of the Jensten Group, has launched an office in Canary Wharf, London, its tenth opening this financial year.
Broking Success: Cass Stephens MD James Cass
Cass Stephens managing director James Cass explains how the broker is targeting the specialist care and park home sectors for growth as the business celebrates its 60th anniversary, and highlights the importance of cyber insurance for SMEs.