FCA market study: general insurance add-ons
Final report - July 2014
03 September 2014
22 September 2017
The FCA has published its final report on its general insurance add-ons market study. The report finds that the add-on mechanism has a clear impact on consumer behaviour and often affects consumers' decision-making, often providing a structural point of sale advantage.
The FCA also found that many consumers are getting poor value not just from some add-on products but also from standalone purchases, as well as a lack of transparency and comparability about the value provided by general insurance products.
The FCA is working to design remedies and will consult on proposals later in 2014.
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