Breaking News
FCA Calls on Insurers to Ensure They Demonstrate Fair Value and Good Customer Outcomes
In a report published today, the FCA set out issues with information sharing between insurers and brokers, and in identifying target markets.
Matt Brewis, Director of Insurance at the FCA, said:
‘Insurers need to make sure their customers are getting fair value. Progress is being made, but we are still seeing too many examples of insurers and brokers lacking the right information, governance, or oversight to ensure their customers get consistently good outcomes.
‘All insurance firms should take note of our findings and make improvements where appropriate.
‘We’ll continue to take action where we see poor value so consumers can have confidence when buying insurance products.’
In February, the FCA agreed a pause in the sale of guaranteed asset protection (GAP) insurance with a number firms, following concerns the products were not offering fair value.
In May, it was confirmed that the FCA permitted several GAP insurers to recommence sales following changes to their products.
The regulator has today also published its latest Value Measures Data (January – December 2023).
It has warned insurers that if they cannot demonstrate that their products meet FCA rules and provide fair value, it will take appropriate regulatory action.
People In This Post
Companies In This Post
- CLS Appoints Six New Board Directors Read more
- Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World Read more
- SumUp Launches in Canada Read more
- European Fintech Association Elects New Board of Directors Read more
- G+D: Navigating the Future of Fintech Agility and Innovation Read more
Vitesse Names Richard Reggel as Chief Commercial Officer for Europe
Vitesse today announced the appointment of Richard Reggel as Chief Commercial Officer for Europe
Irish InsurTech Kayna Joins Guidewire InsurTech Vanguards Program
Kayna announced today that the company has joined the Guidewire Insurtech Vanguards program, an initiative led by P&C cloud platform provider, Guidewire
Sircon Compensation Recognized for Helping Carriers Turn Agent Compensation Into a Competitive Advantage
Vertafore®, the leader in insurance technology, today announced that its Sircon® Compensation solution has earned top industry and business honors, with a Gold in the 2026 TITAN Business Awards and finalist designation in the 2026 PropertyCasualty360 Insurance Luminaries Awards.
Windward Risk Managers Deepens Partnership with ZestyAI to Power California Market Entry
ZestyAI, the Risk and Decision Intelligence Platform for the insurance industry, today announced that Windward Risk Managers is using Z-FIRE™ to power wildfire underwriting as it expands into the California insurance market.
Vellum Launches AI Ops Agent to Transform Insurance Data Workflows
Vellum announced the launch of Val M., an operations AI agent designed to eliminate the manual ingestion and management of complex partner data
Allianz and Asda Agree Home and Motor Insurance Partnership
Allianz UK has strengthened its long-standing strategic partnership with Asda to offer home and motor insurance to Asda customers
Boost Insurance Launches Boost Atlas: The AI-Driven Partner Portal Built for Specialty Commercial Brokers & MGAs
Boost announced the release of Boost Atlas, an AI-enabled broker and MGA portal purpose-built to compress the placement workflow from hours to seconds
CLS Appoints Six New Board Directors
CLS, a financial market infrastructure group delivering settlement, processing and data solutions, today announces the appointment of six new members to its Board of Directors at the CLS Annual General Meeting held on 9 June 2026.
Mobey Forum Calls for a Collaborative Approach to Fraud Prevention in Rethinking Fraud in a Connected World
Mobey Forum’s Fraud Expert Group has published a new report, Rethinking Fraud in a Connected World: Trust, Collaboration, and Resilience in the Digital Ecosystem, exploring how fraud is evolving beyond traditional banking threats and why stronger collaboration across industries is becoming essential.
SumUp Launches in Canada
SumUp, the global financial technology company, today announced its official launch in Canada. The milestone makes Canada SumUp's 38th market and its latest step in building out its presence across the Americas, as the company continues its mission to make commerce simpler and more accessible for all businesses worldwide.
European Fintech Association Elects New Board of Directors
The European FinTech Association (EFA) today announced the election of its new Board of Directors, bringing together senior leaders from across Europe's fintech ecosystem to guide the Association's work over the coming term.
G+D: Navigating the Future of Fintech Agility and Innovation
Share this post: Share on LinkedIn Share on X (Twitter) Share on Facebook Share on […]
Connect IFA Strengthens Leadership Team to Drive Growth and Enhance Adviser Support
Connect IFA Ltd is pleased to announce key leadership appointments designed to strengthen its commitment to growth and enhance the support it provides to advisers and network members.
FreeAgent Launches New AI Tool for Landlords to Capture Rental Statements
FreeAgent, the innovative accounting technology company, has launched a new feature into its landlord software, enabling landlords and accountants to harness artificial intelligence to input and reconcile data from letting agent rental statements.