FCA calls for improved customer outcomes on terminal illness benefits

The review, published today (2 October), examined various data requested from life insurance providers to assess "whether insurers were acting to deliver good customer outcomes for this policy benefit." Overall, the regulator stated that its findings did not conclude that insurers are "routinely delivering poor customer outcomes for terminal illness benefits" or find evidence of "significant numbers of declined terminal illness claims." However, the FCA did detail several areas of improvement for providers, particularly in the context of Consumer Duty obligations, including the requir...