FCA Insurance Product Governance ‘Dear CEO’ Letter February 2024
On 23rd February 2024, Matt Brewis, Director, Insurance at the FCA, wrote to insurance manufacturers setting out the FCA’s key observations and concerns about their product oversight and governance arrangements, and whether firms are meeting their…
EU minimum PII limits to be increased in October 2024
Brokers Ireland recently announced, following a review by EIOPA of the Harmonised Index of Consumer Prices (HICP) and a December 2023 European Commission Regulation amendment, that the minimum rate of Professional Indemnity Insurance (PII) that insurance…
Which? urges action on home and motor insurance instalment rates
In publishing the details of research it has conducted into the cost of insurance instalment facilities in the home and motor insurance markets, Which? is urging the FCA to publish a league table of the ‘best and worst’ providers (purely from an APR…
The FCA reviews firms’ treatment of customers in vulnerable circumstances
On 15 March 2024 the FCA announced that it would be conducting a review into firms’ treatment of customers in vulnerable circumstances. The FCA is now writing to firms, conducting the review. In line with its 2021 commitment, it continues the work in this…
FCA publishes findings from its latest Financial Lives cost of living recontact survey
The FCA conducted the ‘Financial Lives cost of living (Jan 2024) recontact survey’ between 8th December 2023 and 28th January 2024 and, where possible, it compared the results to those from its January 2023 survey.