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FCA taking 'the nuclear option' in pricing remedies

2020-09-22T12:43:00

nuclear terrorism

The regulator has gone further than it has in previous interventions, argues former FCA figure

The FCA has taken “the nuclear option” in its remedies for unfair insurance pricing, according to Michael Sicsic, a former official at the regulator now working as a consultant.

”It’s as if they’ve considered the various protestations and nuanced counter arguments of the insurers about models and measurements and instead decided to take a bulldozer to the playing field,” Sicsic said.

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