Showing their cards: FCA Feedback Statement on GI value measures
22 Apr 2016
In FS16/1: Feedback Statement on DP15/4, the FCA summarises the response it has received to the options set out in the June 2015 Discussion Paper on general insurance add-ons, and outlines the next steps.
Just to give you a bit of background on the FCA’s objectives, a 2014 survey conducted by the regulator found that competition was not working well for consumers in add-on markets. It concluded that there was little competitive pressure on firms because add-on buyers were less likely to shop around and were less price-aware than they would be when choosing a stand-alone product.