What does the FCA Protection Market Study mean for intermediaries?

"Review has strong links to the Consumer Duty"

clock • 4 min read

Kris Armstrong, compliance policy manager, Simplybiz, explores the Financial Conduct Authority (FCA) Protection Market Study and highlights what he thinks it means for advisers.

With its launch of its Protection Market Study, the FCA is investigating how pure protection insurance — life insurance, critical illness cover, income protection, and whole of life cover — is sold to consumers. The review focuses on whether people are getting good value for their money and if there are any problems with how products are sold. The regulator will explore how insurance intermediaries earn commission, how they influence insurance products, and whether consumers fully understand what they are buying. How a market study works The FCA investigates how well markets are ...

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

49% of UK adults financially vulnerable: FCA

49% of UK adults financially vulnerable: FCA

FCA Financial Lives 2024 survey

Cameron Roberts
clock 19 May 2025 • 3 min read
Two PFS board members resign amid governance 'concerns'

Two PFS board members resign amid governance 'concerns'

Daniel Williams and Ben Wright step down

Jen Frost
clock 19 May 2025 • 4 min read
BIBA launches insurance broker ad campaign

BIBA launches insurance broker ad campaign

Promoting advisers to SMEs

Jaskeet Briah
clock 14 May 2025 • 2 min read