The first report on its study into wholesale insurance broking was initially supposed to be published in autumn 2018
The FCA has pushed back the publication of an interim report into wholesale insurance broking to next year.
The body had initially promised to issue the first report into its market study on wholesale insurance broking in the autumn of 2018.
In it’s April business plan this was moved to the end of the year, and the FCA has now stated the report will be published within the first three months of 2019.
A spokesperson for the FCA said: “At the time of publication of the Terms of Reference we aimed to publish an interim report by autumn 2018.
“Following consultation we now aim to publish an interim report in Q1 2019. The interim report will set out our analysis and preliminary conclusions including, where appropriate, possible remedies to address any concerns identified.
“This will be followed by our final report.”
The FCA is undertaking the study following what it has have been significant changes in the sector in recent years. The consultation has now closed.
It says it wants to “explore how competition is currently working and whether it could work better in the interests of clients”.
The report is set to look at how brokers compete in practice and whether they use their bargaining power to get clients a good deal; assess what conflicts of interest exist, how they are managed and how they affect competition and client outcomes; and examine how broker conduct impacts on competition in the sector.
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