FCA publishes regulatory priorities for insurance

The new priorities include: improving consumer understanding, claims handling and service quality; increasing access to insurance; supporting growth and innovation; and simplifying regulation. Under its increasing access to insurance priority, the regulator pointed to the outcomes of the Pure Protection Market Study and focused on vulnerable customers as key routes to improving the level of access. In its interim findings of the Pure Protection Market Study, the regulator said that 72% of the identified needs for protection customers are not covered, i.e. consumers do not hold the pro...