FCA confirms coronavirus product value guidance
The regulator expects all insurers and brokers to have taken necessary action by 3 December this year.
The Financial Conduct Authority (FCA) has today (3 June) confirmed guidance for insurance firms to consider the impact of Covid-19 on the value of their insurance products.
Sheldon Mills, Interim Executive Director of Strategy and Competition at the FCA, said: “Customers should expect value from the insurance products that they buy, but the exceptional circumstances of coronavirus may have materially reduced the value they are getting.“Today’s guidance is designed to protect consumers by
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