MPs are continuing to pile pressure on the Government over the way that non-advised insurance sales are marketed and sold to consumers.
LibDem Shadow Chancellor Vince Cable has asked the Treasury to explain what measures there are to ensure insurance policies sold in a sealed-pack “off the shelf” display their terms and conditions on the outside of the pack.
Treasury Economic Secretary Ed Balls says the FSA makes no distinction in its regulatory treatment of sealedpack policies and other forms of non-advised sales and stresses firms must provide clear information. He says policies are often concluded by a phone conversation or an application form by post.
The Treasury is rumoured to be considering a public consultation on non-advised sales next year.