The FCA: 10 years on has it been a success, failure – or somewhere in between?
On the 1 April 2013 insurance brokers faced a new regulatory dawn as the baton passed from the Financial Services Authority to the Financial Conduct Authority. Insurance Age canvassed opinion throughout the market to find out views on how the first decade has gone.
What has been the most significant legacy of the FCA in its first 10 years of existence?Branko Bjelobaba, principal, Branko Ltd: Time has flown, but for me it was ensuring that the renewing motor and home policyholders were treated fairly and not harmed with alarming rises in premium to allow new customers to benefit from better deals.
Also, the focus on value has been essential and long overdue – people really need to think about whether the product/service does indeed provide fair value
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