FCA Warns Insurance Brokers On Poor Value Products

By Martin Croucher (June 14, 2022, 12:44 PM BST) -- The financial watchdog has criticized brokers and underwriters in the London insurance market for failing to keep up with consumer protection regulation.  

The Financial Conduct Authority said in a letter published Monday that it was disappointed that the sector had "not fully embraced" new rules requiring companies to ensure customers were not sold unsuitable cover.

The FCA introduced new product governance rules in October last year, which demanded that companies in the sector consider the value for money of an insurance policy for customers.

"We continue to see customers buying products which may not be suitable, do not offer fair value and...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Government Agencies

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!