Latest News
Experts in Commercial and Personal Insurance

Un-regulated insurers...

Heath Insurance like all professional insurance advisers is regulated by the Financial Services Authority. Concern is being expressed by a number of informed sources that the popularity of the online quote sites known as aggregator sites like gocompare, tescocompare, moneysupermarket and comparethemarket which are not regulated is causing the public to be misinformed regarding the scope and quality of the cover offered by a number of insurers.

The main areas of concen involve the policy cover restrictions and in particular the excess (the contribution you must make towards the cost of repairs) and the various types of cover available under home insurance policies. An example for one popular home insurance web site is the way irrespective of the cover you request the first quotation it produces is for the most restricted form of cover they offer and without looking very closely at the site it is difficult to identify the fact that the cover offered is not the cover you requested.

The moral of all this is by all means use the online sites but also talk to a Financial Services Authority registered insurance adviser who has to be completely transparent with the cover and quotation offered. Then decide the option you prefer.

If you have an opinion on this subject, or would like to find out more about the benefits of using an FSA regulated insurer, why not get in touch?