Redress for opt-out add-on buyers mooted
Redress for consumers who bought add-ons unnecessarily through the opt-out process would be a "logical conclusion" of the Financial Conduct Authority consultation into the sales practice, according to PWC.
The FCA today (25 March) launched a consultation on proposals to ban the use of opt-out sales practices for financial services products.
Steve Folkard PWC director said: "A logical conclusion of this
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: http://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Regulation
Regulator consulting on ‘complete rewrite’ of climate expectations
The Prudential Regulation Authority has released a consultation paper setting out proposals on updated supervisory expectations for banks and insurers aimed at helping them “manage the effects of climate change”.
FCA’s premium finance conundrum: act or step back?
Editor’s View: With falling premiums, a stalled government motor insurance taskforce, and jittery markets, Emma Ann Hughes wonders if no action is now the most likely outcome of the Financial Conduct Authority’s premium finance market review.
National insurance hike tops concerns for SMEs
A survey from Towergate Insurance Brokers has revealed October’s National Insurance hike is among the top financial concerns of SMEs.
Insurance complaints take a slight dip
The Financial Conduct Authority’s latest data has shown insurance and pure protection complaints decreased 6% from 764,272 in the first half of 2024 to 718,496 in the second half.
Solvent exit planning: a crucial step for insurers
While the regulator has postponed the implementation date for the solvent exit planning rules for insurers to 30 June 2026, Sarah Ouarbya, partner for risk consulting and regulatory compliance at Forvis Mazars, warns providers shouldn't put off producing comprehensive and well-documented plans.
