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  2. 2 days ago · Now, the Financial Conduct Authority (FCA) is launching an investigation into whether pay monthly car and home insurance customers are getting a fair deal. Here, we explore why premium finance is being dragged into the spotlight, whether it's likely to help with your premiums, and what further action is being taken around car insurance costs.

  3. 3 days ago · October 16, 2024. Premium finance allows individuals to manage their insurance payments in instalments. Credit: Ascannio/Shutterstock. The UK Financial Conduct Authority (FCA) has initiated an examination of the country’s premium finance market. This move comes amid concerns that individuals who finance their motor and home insurance payments ...

  4. 2 days ago · The FCA recognises premium finance as a much-needed product within the market. However, with more and more consumers utilising it because of increasing household costs and rising insurance prices, it is pertinent that industry gets this right and does so in a timely fashion to avoid future costly remediation projects.

  5. 1 day ago · The Financial Conduct Authority has launched a review of the premium finance market, alongside the launch of a government motor insurance taskforce. The impact tax changes in Labour’s first Budget in 14 years could have on the insurance industry is the focus of the latest Insurance Post Podcast. Sheldon Mills, the Financial Conduct Authority ...

  6. 2 days ago · Insight. Premium finance review welcomed as EY warns of "heightened regulatory scrutiny”. Industry practitioners have broadly welcomed the Financial Conduct Authority launching a review into premium finance. The review, known as a competition market study, is to see whether people who borrow to pay for motor and home insurance are receiving ...

  7. 2 days ago · Premium finance enables more than 20 million people in the UK to pay for insurance in instalments, with the average yearly rate on the amount of money borrowed ranging between 20% to 30%.

  8. 3 days ago · The FCA has launched a review, known as a competition market study, to see whether people who borrow to pay for motor and home insurance are receiving fair, competitive deals. Premium finance allows people to pay for insurance in instalments. With the average yearly rate on the amount of money borrowed ranging between 20 to 30%, the FCA is ...

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