FCA Warns General Insurers Over 'Widespread' Misselling
Law360, London (April 10, 2019, 10:39 AM BST) -- The Financial Conduct Authority accused general insurers on Wednesday of "widespread" misselling despite European rule changes designed to improve the market, warning it is ready to crack down on the problem.
British insurers have come under fire from the City watchdog for "widespread" misselling, even after changes to European Union rules designed to improve the market. (AP) The City watchdog said it will intervene against non-life insurers and their executives under the Senior Managers and Certification Regime, which toughens up accountability for bosses, and the Insurance Distribution Directive, which demands greater transparency from brokers. The FCA has written to all chief...
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