FSA looks for improvement in customer GI documents

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Many insurance companies are not yet fully complying with Financial Services Authority (FSA) rules on the provision of disclosure documents to customers new research indicates.

The work involved reviewing the content and format of more than 100 policy summaries and Key Facts documents for, household, critical illness, income protection and other types of general insurance. The regulator says a key focus of the review work was on the “appropriateness, prominence and clarity of significant and unusual exclusions, given the potential for consumer detriment in this area.” Problems identified with policy summaries and Key Facts documents included poor quality of style and presentation, making it difficult for customers to read and understand the documents; The FSA als...

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