FCA calls on insurers to demonstrate fair value

Firms and senior managers to be held accountable for failings

Jaskeet Briah
clock • 2 min read

The Financial Conduct Authority (FCA) has called on insurance providers to ensure they demonstrate fair value and good customer outcomes.

The regulator said that while insurers and brokers have improved governance and oversight of how products are designed, managed, reviewed and distributed, many still cannot show how they are providing fair value to customers or that they were receiving good outcomes. Many manufacturers are "not adequately" assessing and evidencing that their products deliver fair value and good outcomes, with firms not identifying any instances where their products are not delivering fair value for customers, according to the FCA. It added that most distributors do not fully understand their responsib...

To continue reading this article...

Join COVER for free

  • Unlimited access to real-time news, key trend analysis and industry insights.
  • Stay on top of the latest developments around health and wellbeing, diversity and inclusion and the cost of living crisis.
  • Receive breaking news stories straight to your inbox in the daily newsletter.
  • Members only access to monthly programme 'The COVER Review'
  • Be the first to hear about our CPD accredited events and awards programmes.

Join now

 

Already a Cover member?

Login

More on Regulation

IPT receipts hit £4.53bn in H1 2026/27

IPT receipts hit £4.53bn in H1 2026/27

Down £11m year-on-year

Jaskeet Briah
clock 21 October 2026 • 2 min read
IHT receipts reach £4.7bn ahead of Autumn Budget

IHT receipts reach £4.7bn ahead of Autumn Budget

Increase of £300m from the year prior

Isabel Baxter
clock 21 October 2026 • 2 min read
AI blurring the line between regulated and unregulated financial advice: FCA

AI blurring the line between regulated and unregulated financial advice: FCA

Risks of consumer harm, cyber vulnerabilities and operational failures

Jack Roach
clock 19 October 2026 • 4 min read