‘Two years on from the introduction of Consumer Duty and many policy documents and T&Cs from across financial services are still far too complex and lengthy,’ says managing director
Travel insurance policy wordings remain among the longest in financial services with an average of 22,666 words, despite the FCA’s Consumer Duty rules requiring firms to make communications more understandable for customers.
Read more…
Explore more regulation related content here, or explore more news here
We’re glad you’ve chosen Insurance Times as your source for industry news and hope you’ve been enjoying reading articles from our award-winning team of journalists.
Gain access to more of our exclusive, breaking stories, interviews and news analysis as it happens. Registering is quick, easy, free, and will also have the additional benefits:
Stay on top of the insurance game with our subscription! Get unlimited access to over 80,000 articles, in-depth analysis, exclusive reports by industry experts, and our Five-Star rating system to compare companies and find the best fit for your business needs - view subscription options.