The Financial Conduct Authority (FCA) announced that it will be launching a study into the pure protection market, to decide if the industry is providing fair value for customers.
The study has a broad remit and will focus on commission structures, products and market competition. Overall reactions to the announcement have been positive, with initial responses hopeful that a market study can highlight the good that protection does and improve the industry's work in providing good customer outcomes. Debbie Kennedy, CEO, LifeSearch, said: "The study has the potential to help all parties understand where and how the sector is delivering good customer outcomes and fair value – and provide a better informed, holistic assessment of potential areas for consumer harm....
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