In 2011, the FCA conducted a thematic review into mobile phone insurance with the aim of assessing its value to customers. The review found that a gap existed between what some firms have led customers to expect from their insurance and what it actually delivers.
The Association of British Insurers (ABI) has now published a good practice guide for mobile phone insurance (MPI) providers, administrators and retailers. The guide is designed to close the gap that was discovered through the FCA’s thematic review. The guide provides examples of good practice relating to:
- product governance;
- product design;
- terms and conditions;
- sales practice;
- claims; and
View Good practice guide for mobile phone insurance providers, administrators and retailers, 13 January 2014