FCA commits to expanded work in response to Which? super-complaint
- Insurance
ThePostMaster- 0
- 2 minutes read
The Financial Conduct Authority has promised to do more work on improving claims handling and consumer understanding of cover in light of Which? hitting the watchdog with a super-complaint about the ‘broken’ home and travel insurance markets.
Which? submitted the super-complaint in September arguing “consumers cannot afford to wait any longer for action to fix the broken home and travel insurance markets”.
The main areas of focus were: poor claims-handling; inappropriate sales processes; and a lack of application and enforcement of FCA rules and other relevant law.
It was the first super-complaint from the consumer champions since 2016 when it targeted the banking industry.
In its immediate reaction, the FCA highlighted it had already
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@insuranceage.co.uk
