FCA bares teeth at GI firms over treatment of customers
A "dear CEO" letter warned the GI market that the regulator will be monitoring firms to ensure they are conforming to relevant rules and meeting its expectations.
In a letter written to CEOs of General Insurance (GI) firms the Financial Conduct Authority (FCA) outlined the details of its thematic report on the GI distribution chain; highlighted existing rules and guidance for firms in the sector and their expectations of a response following the publication of a report into distribution strategy in insurance.
The report published today (10 April) identified the potential for harm and negative outcomes for customers stemming from the product development
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