Add-ons and opt-outs

Table of contents

• Original news
• What has driven this announcement by the FCA?
• What’s wrong with an opt-out system?
• What are the key proposals and new rules in CP15/13?
• How will the FCA proposals assist consumers?
• What type of firm and financial product will be affected by the change? Who or what falls outside the rule?
• What will firms need to do if the proposals are implemented?
• What happens next?

Article summary

Financial Service analysis: Are financial services firms doing enough to inform consumers about add-on products? Katie Tucker, a senior associate at Pinsent Masons, examines the Financial Conduct Authority (FCA) consultation on the general insurance (GI) add-ons market and considers how its proposed remedies will help consumers.