The UK Financial Watchdog has launched an investigation into whether insurance companies are taking advantage of “vulnerable” customers who take out policies designed to financially protect them and their families in case of serious illness or death. The Financial Conduct Authority (FCA) will launch a market study into pure protection products, which are designed to help individuals and their families with their finances should a policyholder die or be unable to cover financial commitments, after becoming concerned about how such policies are being sold. Sheldon Mills, Executive Director of Consumers and Competition at the FCA, commented: “Pure protection can offer peace of mind and financial security, often when people are at their most vulnerable. We have seen indications that this may not be the case across the pure protection market and we will act if we find that the market is not working well. Consumers should be able to buy products which meet their needs and provide fair value.” Read the full story here 👉 https://lnkd.in/gucUaNBk #InsurtechInsights #InsuranceNews
Insurtech Insights’ Post
More Relevant Posts
-
Join us for a quiz time! What is the primary purpose of insurance? A) To avoid paying claims B) To provide financial protection against potential risks Comment your answer below! Connect with us at @pcastnerckha. #InsuranceQuiz #FinancialProtection #InsurancePolicy #InsuranceIndustry #CareerOpportunity #InsuranceLife #InsuranceAgency
-
-
Government enforcement leaders love to talk about being tough on individuals. But what does it all really mean? And have trends changed over time? And why do they charge individuals in some cases but not others? And what about insurance? So many questions. Read on for the answers. https://lnkd.in/eD75XKUb
-
Organized insurance fraud can lead to substantial financial losses and decreased productivity for large employers and their service providers. Explore more trends worth watching by visiting Constitution State Services at #RISKWORLD. Find us at booth 1619. https://bit.ly/3YeuBOH
-
-
"We're your go-to for crafting cutting-edge financial solutions, elevating both value and profitability." Founder/Co-Owner for Logical Thinking for Business Owners LLC
A Lesson in the Importance of Cash Value Insurance I recently spent time with a father who hadn't understood the significance of cash value insurance—until life threw an unexpected challenge his way. It was a harsh wake-up call, but he learned the true value of being prepared. This experience reminded me how crucial it is to have financial safeguards in place, not just for us, but for our loved ones. Let's not wait for a crisis to realize the importance of protection and security. "DM today!" #FinancialPlanning #InsuranceAwareness #LifeLessons #BePrepared #FinancialSecurity #PeaceOfMind #LongTermPlanning
-
-
The Magic 🪄key # 6 to Financial Intelligence : ✍️Protection against risks Make sure you have the adéquate protection for you and tour belongings being it through a sick insurance or any other insurance. You should also keep aside some fonds for unforseen Financial circumstances. #MFIDigitalCommunity
-
-
While the cost of insurance matters, clients seek more than just affordability. They want comprehensive coverage that protects their assets, provides financial security, and above all, gives them peace of mind in times of unforeseen events. #MythsVsTruths #InsuranceTruths #InsuranceBroker #InsuranceCareers
-
-
Content Director at Infopro Digital Insurance Division. Top 25 insurance and insurtech influencer according to Lucep
Well the result of the latest Financial Conduct Authority survey are in as to how brokers are doing on compliance and action taken in response to the #consumerduty. Emmanuel Kenning gives Insurance Age readers a snapshot of the findings.
FCA survey outlines broker Consumer Duty performance and room for improvement - Insurance Age
insuranceage.co.uk
-
Navigating Risks in Today’s Regulatory Landscape 🌍 As legislation evolves, businesses face increasing risks, including personal liability for directors. We assist in identifying these risks and discussing the potential of insurance covers to mitigate your financial liabilities. •Professional Indemnity Insurance: Protect against losses from professional errors and civil liabilities. •Directors & Officers Insurance: Shield personal assets from claims related to regulatory and civil liabilities. •Credit Insurance: Safeguard your sales ledger and enhance credit control to mitigate bad debt. Discover how we can help protect your assets and peace of mind - https://lnkd.in/eSs5EkSg #Insurance #RiskManagement #ProfessionalIndemnity #DirectorsInsurance #CreditInsurance #BusinessProtection #LiabilityCoverage #InsuranceBroker
-
-
With Title Agents Errors and Omissions Insurance, we can protect you from financial losses and more. 🏠📲 Find more in-depth info at rieblinginsurance.com. #RieblingInsuranceAgency #FNFPak
-
-
Are you aware of the pitfalls associated with Indexed Universal Life (IUL) policies? "Many insurance agents should lose their license... if my industry is filled with insurance agents harming other people, that's going to hurt my business," says CERTIFIED FINANCIAL PLANNER™ Mark Willis. This episode highlights the widespread mishandling of IULs by poorly trained agents and emphasizes the need for ethical financial strategies. How confident are you in your current insurance policy's management? #NYAFP https://lnkd.in/gQfkRCbT
-
