FIN.

FCA updates GI pricing FAQs

FCA has added some questions to its FAQs on its new general insurance pricing practices Q&As.  The new questions relate to incentives. These include clarification that sending out paperwork that results in tacit renewal is an insurance distribution activity – and that this will be the case even where the physical actions involved in renewal are delegated to a third party (even if these are delegated back up to the insurer).  The questions also address application to cash back sites and PCWs, and how incentive should be reflected.

Emma Radmore