News analysis: FCA sends warning on renewal rules
The industry reacts after the regulator clamped down on Admiral over renewal wordings
Admiral’s recent run in with the Financial Conduct Authority (FCA) over renewal wording transparency should serve as a warning to brokers, according to compliance experts in the sector.
The FCA clamped down on the insurer last month after it failed to comply with the rules which require firms to show customers what they paid last year alongside their suggested renewal premium (see box below).
Admiral agreed to contact all customers who renewed their policies after 1 April – when the regulation
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