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Tag Archives: GI

Posted in Regulatory and legislative updates, UK

UK: FCA Market Study into General Insurance Pricing Practices: time to look at pricing strategies?

On 4 October 2019, the FCA published its much anticipated Interim Report on its Market Study into general insurance pricing practices (the “Interim Report“). The Market Study stems from the work of the FCA in its Thematic Review into pricing practices in the retail insurance sector which concluded that further action was necessary due to

Posted in Regulatory and legislative updates, UK

FCA warns GI firms to place greater focus on customer outcomes

FCA publishes the results of its Thematic Review into GI insurance distribution chains The FCA’s Thematic Review into GI insurance distribution chains (published on 10 April 2019) has concluded that certain GI sector manufacturing, sales and distribution approaches can lead to customers purchasing inappropriate products, paying excessive prices or receiving poor service. The report highlights

Posted in Regulatory and legislative updates, UK

UK: FCA 2017/2018 Business Plan – Sector priorities for general insurance

In its recently published 2017/2018 Business Plan the FCA outlines its priorities for the general insurance sector over the coming year and beyond. In general, the Business Plan identifies a shift in focus towards market structures, incentives and distribution and away from issues directly affecting retail/SME consumers (though the FCA will continue to monitor and review