FCA expands pure protection study: Eyes on competition and consumer outcomes

Interim report to be published in Q4 2025

Cameron Roberts
clock • 4 min read

The Financial Conduct Authority (FCA) has updated its terms of reference for its Pure Protection Market Study. The update detailed the regulator’s feedback from the market and added provisions for the protection gap and barriers to innovation and investment.

The study, which launched in August 2024, will examine four key product areas: term assurance, critical illness cover, income protection and whole of life insurance. The positive notes were that the FCA recognised high pay out rates and favourable pricing models for consumers. These are healthy signs for the regulator, but it still had concerns around commission agreements, competition in the market and vulnerable customers, among other factors. The terms of reference focus on two main areas of the market, providers and intermediaries, however, it has acknowledged the role that reinsu...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Your profession

Student debt and advice: 'Strong case' for it to be given greater attention

Student debt and advice: 'Strong case' for it to be given greater attention

Overlooked but ‘shouldn’t be ignored’

Isabel Baxter
clock 09 February 2026 • 8 min read
Female client focus 'vital' as great wealth transfer comes

Female client focus 'vital' as great wealth transfer comes

Intergenerational wealth planning importance

Professional Adviser
clock 06 February 2026 • 1 min read
Andrew Goodwin: Flipping the narrative on successful investing

Andrew Goodwin: Flipping the narrative on successful investing

'He's a pinball wizard, there has to be a twist'

Andrew Goodwin
clock 06 February 2026 • 4 min read