Aviva, Admiral and NFU CEOs rally against product standardisation at HoL hearing
Aviva’s UK and Ireland CEO Jason Storah has said the standardisation of insurance products would be a “step back” and reduce competition, innovation and personalisation.
Speaking at the House of Lords’ Financial Services Regulation Committee this morning as part of its ongoing investigation into the regulation of the consumer insurance market he stressed the comparability of “apples with apples” was much more important.
Alongside Storah, NFU Mutual group CEO Nick Turner commented: “[The] standardisation of products is not a good thing.
“Standardisation of reporting might be. And the Financial Conduct Authority is already working [on this]; and we are working with
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