On 14 May, the FCA confirmed guidance to helping customers who may be facing financial difficulties
The FCA guidance applies to general insurance and protection contracts and aligns the assistance available to options provided for other financial products, such as mortgages and unsecured loans. The Association of Mortgage Intermediaries (AMI) said it is supportive of insurers who allow customers to pay back deferred payments over a period of months. "The ability to stagger repayments rather than in one lump sum may encourage the customer to keep their cover in force, instead of cancelling a...
Headed up PFS for eight years
Questions over fairness
Support accessible from one place
Effective 16 April