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ABI response to FCA Market Study on GI Add ons

The ABI has submitted a response to the FCA’s market study on general insurance (GI) add-on’s.

The response calls for the FCA to recognise that the GI sector is diverse and that the analysis of the add-on markets as a common group can ignore the different customer needs and market dynamics for each of those markets.

The response also points out disagreement with the FCA’s proposed remedies, in particular the plan to use claims ratios, arguing they are not a helpful way for consumers to determine the value to them of different insurance products.

The ABI will maintain dialogue with the FCA as they progress work and develop further remedies.

Read the ABI's response (pdf 204kB)

Last updated 01/07/2016