The Financial Conduct Authority (FCA) is back on schedule with its pure protection market study, which will now meet the original publication date.
Back in December, the regulator announced that the length of the study would be extended by a year into the second half of 2027.
However, an update from the FCA shows that the full report can be read from the third quarter of this year, which was the original deadline.
The FCA will then engage within the protection market to ensure that the recommendations of the study are being implemented.
The study’s interim report was published in late January, after it was initially planned to be released at the end of last year.
In the previous update, the FCA said that it has milestones and engagements planned for 2027. This appears to no longer be the case after reading the latest update.
Good outcomes
The market study looks at the distribution of pure protection products and is based on discussions with 30 insurers and intermediaries.
The aim is to discover if the market is functioning efficiently and if consumers are receiving good outcomes.
Commission and if pure protection products provide fair value for consumers are at the centre of the study.
The strength of competition in the market, given that providers have left, is also being examined.