Consumer Group Demands Regulatory Action Over Poor Claims Handling
Which? has called for the Financial Conduct Authority (FCA) to address widespread issues in how insurers manage claims. Their new report reveals that 48% of claimants face significant problems, including repeated information requests and inadequate responses.
The study, which surveyed 3,322 insurance claimants, found that these failings affect customers’ mental and physical health, with 31% reporting increased stress and 10% experiencing sleep problems or health issues.
Which?’s Director of Policy and Advocacy, Rocio Concha, criticized insurers for their lack of empathy and efficiency. She stressed that the FCA must enforce its Consumer Duty regulations more strictly to ensure insurers meet required standards.
Additionally, Which? has launched a campaign against high premiums and high-interest rates on monthly insurance payments, calling for tougher action to protect consumers from these practices.
