FCA’s home and travel super-complaint response triggers praise and warnings from experts
Industry specialists have praised the clarity and transparency of the Financial Conduct Authority’s response to the Which? super-complaint about the ‘broken’ home and travel insurance markets but warned the actions may not “get to grips” with “growing problems”.
Which? submitted the super-complaint in September and yesterday the FCA promised to do more work on improving claims handling and consumer understanding of cover.
The FCA detailed that over the next year, it will do more to:
Improve claims handling, by reviewing firms’ customer service and delivery and how they oversee third parties that handle claims.Improve consumer understanding of what their insurance covers, by analysing the different ways firms are selling products.Hannah Gurga, director
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FCA commits to expanded work in response to Which? super-complaint
The Financial Conduct Authority has promised to do more work on improving claims handling and consumer understanding of cover in light of Which? hitting the watchdog with a super-complaint about the ‘broken’ home and travel insurance markets.