The Monetary Conduct Authority has confirmed that 4 insurers can restart promoting assured asset safety insurance coverage after it took motion in February and March to halt gross sales throughout the market.
Fortegra Europe Insurance coverage Firm, Motors Insurance coverage Firm, Amtrust Europe and Monetary & Authorized Insurance coverage Firm can now promote merchandise, the FCA listed.
The watchdog confused that the companies are doing so “with materially decrease ranges of fee being paid out to these promoting GAP, bettering worth for purchasers”. It had beforehand seen charges out there as excessive as 70%.
In February the FCA introduced that insurers protecting 80% of the market had agreed to pause gross sales.
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