FCA takes aim at gap between industry statements and results of first value measures data
The Financial Conduct Authority has warned it will consider which tools it can use to protect consumers as it unveiled its first personal lines value measures data.
The watchdog stated it was “concerned about how the current picture presented in the data appears to compare with firms stating that virtually all products are providing fair value”.
The first data set, which has been eagerly anticipated by the market, covers July to December 2021. The next set covering all of this year will be collected in February 2023.
The regulator said it will be closely analysing the February data and testing the robustness of firms’ product oversight and governance
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