FCA claims it is already overseeing changes following Which? super-complaint
The Financial Conduct Authority has highlighted it has already identified issues that need to be fixed in the home and travel insurance market and is focused on making sure the changes required are made following Which? filing a super-complaint.
Which? submitted a super-complaint to the FCA over market failings in home and travel insurance today. The step marked a serious escalation by the consumer champions which last issued a super-complaint in 2016, in that instance targeting the banking industry.
According to Which?, its super-complaint launch comes as “consumers cannot afford to wait any longer for action to fix the broken home and travel insurance markets”. The three areas of focuses are: poor claims-handling; inappropriate sales
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