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Select committee: Financial Services Regulation Committee

Conclusion 20

2nd report - Home and travel insurance regulation: more for the FCA to do Published 23 Oct 2026 Paragraph 104

Financial Services Regulation Committee Regulation of the consumer insurance market All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗

Conclusion (the committee's words)
We are concerned that the FCA has not set out a sufficiently clear framework for implementing the Consumer Duty. The FCA identified a range of relevant indicators but did not explain how these would be brought together to judge whether the Consumer Duty was working or what degree and pace of improvement it expected. Without clearer measures of success, it is difficult for firms, consumers and Parliament to assess whether the Consumer Duty is delivering its intended outcomes.

From: Financial Services Regulation Committee, 2nd report - Home and travel insurance regulation: more for the FCA to do, paragraph 104, 23 October 2026

Government response

Government response awaited: deadline 23 December 2026.