Extended warranties sold with domestic electrical goods should be subject to the same regulation as other forms of insurance, according to the scrutiny and consumer affairs committee of GISC.
"Customers have a right to expect the same standards of good practice, and the same level of protection, when buying any form of insurance, whether it is to cover their washing machines and televisions, or their cars and homes,” said the chairman of GISC's scrutiny and consumer affairs committee, Baroness Brenda Dean,
Dean said the committee was “very disappointed” that the FSA had decided not to regulate extended warranties on domestic electrical goods, despite it being dominated by a monopoly which operated against public interest.
