The FCA’s interim report following their Market Study into the General Insurance offered some hard hitting potential remedies to the issues raised, however, their approach remains cautious as further consultation is required. Although many of these issues have been widely recognised by the industry for a long time, action is now needed. Firms should carefully consider their response to the proposed remedies and the implications of these to their business.
In our guide below, we unpack:
Do get in touch if KPMG can support you in considering how you respond to the consultation, both in terms of feedback on the findings or the remedies the FCA are suggesting. Or if need help evaluating the impact of the potential remedies on your business model and strategy, and how you might respond to changes in the market to mitigate risk or leverage opportunities.