FCA’s focus on fair value marks industry ‘step-change’

By Insurance Times 2020-11-10T07:39:00

Industry experts say that the ‘status quo has to change’ and that the concept of fair value now needs to be embedded within organisational culture and business models

The FCA’s September report on pricing practices within the home and motor markets represents a “step-change” for the insurance industry, as the principle of providing ‘fair value’ moves from being a “nebulous concept” to a “demonstrable outcome”.

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