Emma RadmoreThe FCA has responded to the super complaint Which? submitted about standards in home and travel insurance markets. It had already planned to make some changes, but has now expanded its work. In particular, if will do more to improve:
- claims handling; and
- consumer understanding of product coverage
Its research has showed that 79% of consumers who make a claim are satisfied with how it’s handled, and that 31% of consumers say they don’t get enough information to allow them to judge the quality of different policies. Its work will include looking at how products are sold, to see how different sales processes affect consumer outcomes.
During 2026 it will also expand its planned work on how outsourced services are overseen and will consider how it captures claims outcomes as part of its post-implementation review of value rules measures. It will also be following up with firms where it has found potential concerns around specific policy terms and wordings.