Following the news that mortgages and general insurance would come under the wing of regulation by the Financial Services Authority in October 2004, more great news for consumers has emerged.
The meaning of general insurance is fairly far reaching and the financial services industry needed clarification on what would and would not come under the regulations.
The Treasury has now confirmed that insurance products like critical illness cover, private medical insurance and permanent health insurance (income protection) will be covered.
This is great news for consumers because any advice they receive must be justified, meaning better advice and better protection.
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