Closing the protection gap will require advisers to think differently

The FCA's final Pure Protection Market Study report is a welcome contribution to an important conversation about how we make sure more people have appropriate financial protection in place. The interim findings, published in January, already gave the industry a clear picture of what is working and where more is needed. For consumers who do have protection, the market is generally delivering good outcomes: high claims acceptance rates, stable premiums and a diverse range of products are helping to drive healthy competition. Advice often turns a general awareness of protection into a pr...