The government's decision to exclude extended warranties from FSA regulation is a missed opportunity to improve consumer protection, said the ABI.
It said the decision would create uneven protection for consumers.
The ABI's head of market regulation and specialist lines Chris Hannant said: "This decision falls short of giving customers the reassurance they need. Exempting insured warranties from FSA regulation is inconsistent with the approach for other general insurance products.
"Exempting service backed warranties means that customers will not have statutory protection against company insolvency or recourse to the Financial Ombudsman.
"This `two-tier' approach is not in the interests of consumers."
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
