Key figures behind the FCA’s protection market review
The Financial Conduct Authority (FCA) has raised serious concerns about the distribution of pure protection products to retail consumers ahead ...
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Tag: FCA
FCA protection market investigation focusing on loaded commission, product churn and insurer competition
The Financial Conduct Authority (FCA) will be conducting a review into the operation of the pure protection market including commission ...
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Insurer target markets too broad and lack detail as does FCA guidance – advisers
Insurers need to up their game in compiling product target market statements as they are too broad and vary widely ...
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FCA slams ‘poor’ PMI and protection product target market statements
The Financial Conduct Authority (FCA) has singled out target market statements from private medical insurance (PMI) and income protection (IP) ...
Read moreFCA requiring product withdrawals and other ‘urgent’ action as insurers and advisers failing to demonstrate fair value
The Financial Conduct Authority (FCA) is requiring insurers and intermediaries to take remedial actions including ordering them to withdraw products ...
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FCA concerned about poor insurance value – but health cash plans are best performer
The Financial Conduct Authority (FCA) has continued to express concern over the value proposition of Guaranteed Asset Protection (GAP) insurance, ...
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Insurance intermediary income up 15.7% but firm numbers drop below 10k
Insurance intermediaries saw their revenue rise 15.7% last year to reach £24.5bn – up from £21.2bn in 2022. Commissions earned ...
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Focus on price and value ‘challenging’ as firms have used opaque fees – FCA
Financial services firms have found focusing on price and value “challenging” during the first year of the Consumer Duty, according ...
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FCA wants firms to identify rules to eliminate that overlap with Consumer Duty
The Financial Conduct Authority (FCA) is calling on firms to suggest rules which could be eliminated or simplified if they ...
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Advisers increase CI and IP market share as sales surge 18% and non-advised completions slump
Advised pure protection product sales rose by almost 18% over the last four years while non-advised sales dropped by nearly ...
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MoneySupermarket launches ChatGPT app enabling protection and health insurance comparisons
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UK healthy life expectancy plunges to lowest levels on record – ONS
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WoA Convention: Personalised service, underwriting and medication the future for IPMI
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Advisers blame soaring IP complaints on speculative claims, non-disclosure, insurer scrutiny and sales surge
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FCA protection market study workshop to feature three advice bodies
