UK Cracks Down On Mobile Phone Insurance

Law360, New York (August 15, 2013, 12:01 PM EDT) -- Many millions of people in the United Kingdom buy mobile phone insurance to cover hazards such as the loss or theft of their phones.

The U.K. financial services regulator, the Financial Conduct Authority (FCA), has expressed concerns about the nature of the insurance product and earlier this year, announced that it would be conducting a review in the sector.

On June 27, 2013, the FCA finally published its report, which detailed the findings of its thematic review; the review had focused on the way in which...
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Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.