Stuart Scullion: FCA's 'broad-brush approach' impacting healthcare

Fifteen months after the Financial Conduct Authority (FCA) implemented transparency measures for general insurance renewals, Stuart Scullion, executive chairman of healthcare insurance trade body AMII, has criticised the regulator for falling short with its demands. The rules set out in the FCA Policy Statement PS16/21, which came into effect on 1 April 2017, encourage instant comparisons for policyholders of the cost of renewals (compared to the previous year's premium) alongside ‘shopping around' messages to help ensure customers are of cover available elsewhere. Scullion, however, ...