Industry reacts: FCA Pure Protection Market Study

Across the board, the protection industry welcomes the FCA's interim findings for scrutinising distribution practices and highlighting challenges around limited customer awareness, although the lack of action on loaded premiums was a key pain point. Dr Yvonne Braun OBE, ABI, director of Policy, Health and Protection & Long-Term Savings, says: "We're pleased the FCA has recognised that the pure protection market delivers for customers by offering a wide range of products, stable prices and high claims acceptance rates." The FCA's recognition that a protection gap remains is a key conce...