"INSURANCE" [2019] ELECD 659; in Kirk, Jonathan; Samuels, Thomas; Finch, Lee (eds), "Mis-Selling Financial Services" (Edward Elgar Publishing, 2019) 193

Book Title: Mis-Selling Financial Services

Editor(s): Kirk, Jonathan; Samuels, Thomas; Finch, Lee

Publisher: Edward Elgar Publishing

Section: Chapter 5

Section Title: INSURANCE

Number of pages: 34

Abstract/Description:

This chapter discusses the common law definition of insurance and contrasts that with the FCA’s approach to insurance under the Regulated Activities Order. It continues to consider the ways in which contracts of insurance can be mis-sold in the context of financial regulation from misleading or inappropriate communications to clients, to information and disclosure failures and the sale of unsuitable insurance. These issues are considered by reference to the ICOBS rules, common law duties and the potential fiduciary duties which may apply. Finally, specific consideration is given to complaints handling and the DISP rules including the specific rules that apply to PPI claims.