FCA to scrutinise whether pure protection market provides fair value to consumers
The FCA has initiated a market study to evaluate the effectiveness of distributing pure protection insurance products, which provide financial support to families facing critical illness or death.
The study will examine whether:
- the structure of commission encourages advisers to suggest switching that may not be beneficial for consumers
- premiums are being raised by insurers to pay a higher commission to an intermediary
- the products provide fair value
- the market supports innovation and growth
To read the full article, please visit the FCA website here.
