Which? response to the Financial Conduct Authority’s review into insurance add-ons

Which? executive director, Richard Lloyd, said: 

“We’re pleased the Financial Conduct Authority will look at the questionable value to consumers of insurance add-ons, which shows a more proactive approach to tackling problems than regulators have taken in the past. However, it should also focus on the way these products are sold, looking at both the sales incentives paid to staff in-store and the marketing and product information provided online. The FCA should investigate this in the same way it is looking into the unhealthy sales culture in retail banking to make sure that companies are putting customers first, not sales.”