Legal Focus: Insurers have responsibility to consumers in cost of living crisis

The Financial Conduct Authority will be watching to see if insurers consider the impact on customers of the current economic turmoil 

The anticipated cost of living crisis is here and last week’s Dear CEO letter to insurers confirms the UK Financial Conduct Authority’s (FCA) return to a theme it adopted early in the pandemic: firms need to consider the impact economic turmoil has on their customers and their conduct will be assessed in that context.