Which? comments as Financial Conduct Authority responds to insurance super-complaint

Rocio Concha, Which? Director of Policy and Advocacy, said:

“Which?’s super-complaint exposed home and travel insurance markets that aren’t working for consumers - and we are pleased that the FCA has taken our concerns seriously. The actions announced today must be the first step towards fundamental reform to ensure these markets work better for consumers. 

“The regulator has pledged swift action to review and address problems with customer service, claims handling and how firms sell products, as well as on policy terms and conditions. These issues have been allowed to fester for years, so the FCA must now seize the opportunity to take strong action to stamp out widespread bad practice and issues with how the markets are working.

“Which? expects the FCA to work closely with insurers, comparison sites and consumer groups, but it is essential that any industry-led solutions are accompanied by firm action by the regulator. We will continue to work with the FCA - but also hold the regulator to account to ensure it acts with urgency and that these commitments lead to meaningful change for consumers.”

ENDS