FIN.

FCA cross over insurance renewals

FCA has warned firms it is prepared to take action against those who have failed to implement rules that have now been in force for a year designed to clearly show customers who are due to renew their general insurance the premium they paid the previous year.

RAC has just agreed to contact customers after FCA found it had not properly done this or encouraged customers to shop around. FCA now expects all firms and their senior management to take immediate action to ensure they are compliant.

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Emma Radmore