Blog: Regulation, the FCA and value – how to stay on track when choosing products and partners?
Ian Lloyd from RAC explains why breakdown insurance is still relevant today, despite improvements in automotive technology, and what brokers need to consider when selecting products for their customers. With the Financial Conduct Authority's new Value Measure Ordinance set to be the next big thing since the Insurance Distribution Directive in 2018, it is more important than ever for brokers to ensure that the products they choose are relevant to their clients. It was inevitable that the ancillary market would come into the spotlight as products and underwriters in the area expanded and that some ancillary products offered customers little product value or were not what they needed. Relevant Good news; with almost 33 million cars on the United Kingdom On the road, breakdown insurance is still absolutely relevant in the brokerage sector. The most important consideration for brokers here is to choose their ancillary insurer carefully, as not all pro...