Analysis

Briefing: Is the FCA misunderstanding insurance fundamentals?

By 2024-11-28T11:00:00

Stuart Reid

Regulatory investigations appear to be tightening the leash on insurance operations, despite the FCA’s bid to streamline its rulebook – but is the FCA missing the point on key practices within the market?

I try really hard to avoid writing about regulation in these columns, but it is impossible to avoid the implications of what has been such mighty change in our industry in recent years.

As if it’s not enough to have suffered recent issues over property insurance – and let’s be honest, it’s not like that particular issue was unknown – to then add the saga of guaranteed asset protection (Gap) insurance and the current consultation underway with premium finance providers, we now have a massive scandal looming on motor finance.

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