This paper discusses the importance and potential implications of the Financial Conduct Authority's (FCA) new remit to promote competition. It notes the FCA has already launched a series of market studies and thematic reviews in insurance markets where it considers there may be issues with the operation of competition.
We consider the impact of these studies and offer some challenges and recommendations to both the FCA and the industry to ensure that the new regulatory objectives can be pursued in a manner which delivers on the common goal of making competition work in the interests of consumers.
- Recommendations for the FCA.
- Recommendations for the insurance industry.
- Competition and insurance markets: Recent regulatory developments.
- Competition and insurance markets: Early learnings.