The perils of misreading the regulator

Loaded premiums and MS24/1

clock • 4 min read

Tony Müdd, divisional director - development and technical consultancy, St. James’s Place, discusses how the loaded premium conversation is far from finished in the wake of the FCA’s Pure Protection Market Study interim findings.

At first glance, the FCA's interim report on the pure protection market looks like a victory for loaded premiums. No regulatory intervention, no finding of consumer harm and no immediate challenge to a business model that many have long defended. Those manufacturers and distributors who offer and use loaded premiums may feel they have won. They may even feel slightly smug. They have not and should not. What they have secured is something much narrower: a regulator that has not yet been able to prove harm using the data available. That is not the same as being right and it is certainly...

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

CII launches advisory board

CII launches advisory board

Professional communities

Cameron Roberts
clock 22 June 2026 • 2 min read
Starmer resigns with new leader expected by September

Starmer resigns with new leader expected by September

Burnham rumoured to have deep support within party

Jen Frost
clock 22 June 2026 • 1 min read
UK labour market sees dip

UK labour market sees dip

Long-term sick on the rise

Cristian Angeloni
clock 19 June 2026 • 3 min read