The Monetary Conduct Authority has launched a overview, generally known as a contest market examine, to see whether or not individuals who borrow to pay for motor and residential insurance coverage are receiving honest, aggressive offers.
The regulator mentioned it was conducting the overview as a result of premium finance is “an necessary product for a lot of clients” however that it had been involved about it “for a while”, including it “might not signify honest worth for some clients and that competitors is probably not functioning successfully”.
We wish to be certain that competitors works nicely and make it simpler for customers to seek out one of the best offers.
As a part of its market examine, the FCA will even take a look at whether or not clients are made conscious of their financing
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