FCA publishes second set of data on general insurance value measures pilot

Following on from the general insurance add-ons market study, FCA piloted the publication of value measures data, which includes claims frequencies, claims acceptance rates and average claims pay-outs by an insurer in respect of certain general insurance products. The pilot was designed for FCA to develop and assess the impact of the value measures data. Evidence collected from the pilot will assist FCA in whether to consult on new rules for firms to report value measures data.

The second set of data has been published and relates to 36 insurers and covers the year ended 31 August 2017.

FCA intends for the pilot to run for two years and will decide later this year as to whether to undertake a third pilot.

FIN. Team