Which? has called on the FCA to intervene and protect consumers, suggesting ‘flawed’ sales processes have led customers to overestimate their level of insurance coverage, attributing this to a rise in claim denials across key policies.
Insurers

LIIBA launches 2025 Agenda
The London & International Insurance Brokers’ Association has announced the publication of its 2025 Agenda, titled “Restating the value of broking”, and announced a “ground-breaking project to quantify the monetary value of London’s brokers to the global economy”, known informally as the Brokers Matter project.

MGAA publishes FCA guidance regarding multi-occupancy buildings insurance commission disclosure
The MGAA (Managing General Agents’ Association) has announced details of feedback it received from the FCA as a result of its lobbying the regulator in relation to multi-occupancy buildings insurance commission disclosures.

Exploring the FCA’s review of firms’ approach to Consumer Duty complaints & root cause analysis
This article explores the FCA’s ‘good practice and areas for improvement’ findings following its review into firms’ approaches to complaints and root cause analysis.

FCA updates its Unacceptable Behaviour Policy web page
The regulator has published the minutes of the latest Wider Implications Framework Executive Level Meeting, and an updated log of live Wider Implications issues as of the end of November 2024.

FCA publishes Wider Implications Framework meeting minutes
The regulator has published the minutes of the latest Wider Implications Framework Executive Level Meeting, and an updated log of live Wider Implications issues as of the end of November 2024.

CII findings suggest "every insurance claimant should be treated as vulnerable"
The CII has published a summary of findings from its recent ‘Road to Consumer Trust’ roundtable, which explored how firms, practitioners and other stakeholders can collaborate to raise the standard of care offered to insurance policyholders following the introduction of the Consumer Duty.

FCA publishes Consultation Paper on Operational Incident and Third-Party Reporting
The proposals aim to bolster the FCA’s operational resilience framework for firms and seek to establish a consistent, sufficient, and timely framework for reporting operational incidents and material third-party arrangements.

Boards should not act as ‘rubber stamp of approval’; effective challenge vital to Consumer Duty board reports, according to FCA
The FCA claim “effective challenge is essential” to Consumer Duty board reports.