FCA publishes insurance value measures scorecard

FCA has published the first set of data in its general insurance value measures scorecard. The study covers the year to the end of August 2016 and finds poor value in both add-on and stand alone products. It also notes consumers find it hard to assess value because there is no easy common measure to help them do so. FCA hopes the data will incentivise firms to improve the value they offer to customers. There will be a further survey this year, and FCA will consider a further publication of data for the following year.

FIN. Team