Analysis

Briefing: FCA not ’hiding a magic equation’ from insurance sector

By 2023-11-23T08:00:00

person thinking question mark face

Rules-based or principles-based regulation? Is it really that simple? Yiannis Kotoulas finds out

By Acting Editor Yiannis Kotoulas

The FCA’s Consumer Duty regulation, which came into force earlier this year (31 July 2023), has placed a slew of new requirements on firms operating in the UK insurance market.

One of these – and perhaps the most significant – requires companies in the sector to ensure that their products provide fair value to customers.

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