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Insurance Age
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With the Financial Conduct Authority’s (FCA) new rules on pricing, auto-renewal and data reporting remedies coming into effect on 1 January 2022, companies must now take heed of the regulator’s recent directives and make sure customers are getting ‘fair value’ when purchasing a policy.
The British Insurance Brokers Association (Biba) and the Association of British Insurers (ABI) have been supportive of the new measures and deemed the ban on dual pricing beneficial for customers.
David Sparkes
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Insurance Age
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The Financial Conduct Authority (FCA) has announced new rules relating to the travel insurance sector. The fresh regulations state that firms must now signpost certain customers with pre-existing medical conditions to a medical cover firm directory.
David Sparkes, head of compliance and training at the British Insurance Brokers Association (Biba), told
Insurance Age that the reasons for implementing these rules are rooted in problems which have become more prominent over the last few years: “In
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MHIB and Biba launch largest ever insurance mental health survey insuranceage.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from insuranceage.co.uk Daily Mail and Mail on Sunday newspapers.