Press Release

FLA CALLS FOR COMPETITION COMMISSION TO TAKE NOTICE OVER ICOB

18 December 2007

Responding to the FSA’s publication of new rules for the sale of general insurance (ICOB), FLA Director General Stephen Sklaroff said:

“The FSA rightly recognises the need to avoid burdening consumers with complicated or indigestible information, and this is reflected in some aspects of their proposed Payment Protection Insurance (PPI) rules. But the industry and its customers now need some regulatory certainty, and it is important that the Competition Commission takes full account of the impact of the new FSA rules as it continues its own inquiry into the PPI market.”