FCA Protection Market Study

FCA Protection Market Study

From The Practical Protection Podcast by Kathryn Knowles

February 19, 2026 · 40 min · Season 11 · Episode 9

About this episode

Kathryn discusses the FCA's Protection Market Interim Report and its implications for the insurance industry.

Hi, everyone! I have ended up out of sequence! Last time I said we would be back with an episode on fatty liver disease, but the FCA has published its Protection Market Interim Report, and I absolutely had to cover this. The good news is that the FCA thinks that the protection industry is working really well, it just needs a couple of tweaks. Overall, I am really happy with what the report says, but there are some areas I don’t agree with and you can hear my views in this episode. I am going through their review of insurance costs, claims, complaints, the role of commissions, restricted panels, loaded premiums and more. The key takeaways: Within pure protection products, income protection has the lowest value in terms of cost compared to claims success, but is still much higher than other insurances Loaded premiums, commission and restricted panels have been analysed and shown to not show significant detriment to consumers Closing the Protection Gap remains one of the key challenges for the protection insurance industry There are a lot of insights in the report and it is well worth a read. I’ve tried to pick out certain pages to direct you to, in case you don’t fancy the full…

People in this episode

Host: Kathryn Knowles

Topics covered

  • FCA Protection Market
  • insurance costs
  • claims
  • protection gap
  • income protection
  • loaded premiums

Keywords

  • FCA
  • protection market
  • insurance
  • income protection
  • claims success
  • loaded premiums
  • protection gap

Sponsors

PlannerX

Mentioned in this episode

Organizations: FCA

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