FCA has published a set of FAQs on its draft rules to remedy its concerns on general insurance pricing practices. It hopes the document will help firms understand the intention behind the proposals, but stresses that the document is not intended to give a definitive view on what the final rules will be. The FAQs look at:
- renewal pricing
- discounts and incentives and
- general issues.
There are separate sections on product governance, auto-renewals and reporting.