FCA sets out expectations on insurers to help with cost of living crisis

The expectations set by the regulator comprise supporting customers in vulnerable circumstances and providing appropriate support to customers who may be in financial difficulty. The authority stated it expects insurance companies to continue offering fair value products to customers and make sure customers are protected from "unnecessary" products or add-ons and unfair penalties. The FCA also reminded insurers that during this economic crisis, customers, including businesses, in financial difficulty are more likely to need to pay for their insurance monthly through premium finance an...