FCA warns insurers to improve support for customers in financial difficulty

The FCA published findings of its review on 3 July 2023, into how home and motor insurers are supporting customers in financial difficulty as the cost of living increases. The FCA’s review considers how firms are ensuring: customers get access to fair value products, and claims are handled promptly and fairly. As the Consumer Duty deadline approaches, the FCA states its findings should be considered in the context of preparation for the Duty, this includes ensuring firms have sufficient information to monitor consumer outcomes effectively.

Download this At a glance to see our summary of the FCA’s review into how home and motor insurers are supporting customers in financial difficulty.