FCA boss’ CEO letter warns of failures, dual pricing and risk of discrimination
Andrew Bailey sends pricing practices warning.
Andrew Bailey, chief executive officer of the Financial Conduct Authority (FCA) has written to insurance CEOs to highlight the risks of “significant harm and poor outcomes for consumers” found in its investigation into household insurance pricing practices.
He warned that during the review the regulator identified firms failing to have oversight, governance and control of pricing practices. This meant businesses could not assess or give evidence that they were treating customers fairly.
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