FCA calls on insurers to demonstrate fair value

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...