FCA criticises UK insurers for failing to deliver value

Some of Britain’s car, home and other insurers are still unable to show they provide good outcomes for consumers, according to the country’s financial watchdog, a year after the introduction of tougher protections for policyholders.

The Financial Conduct Authority (FCA) published a ‘thematic review’ of the general insurance sector that found poor customer value and potential harm due to shortcomings in product governance, oversight and controls.

Many insurers have not implemented...