Blog: What are the FCA Value Measures?
Underwriting data expert, Jeremy Keating, outlines key actions for brokers under the newly implemented fair value regime.
The Financial Conduct Authority is requiring all underwriters of a wide list of personal lines products to submit an annual report on the value of their products. These reports will be published with the first set submitted at the end of February.
The firms are required to submit information about premiums, policy volume, claims, and complaints. From this information the FCA will publish for each firm: claims frequency, claims acceptance rate, average claims pay-outs and claims complaints as a
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