Insurers review conduct risk as FCA targets mis-selling

Regulator looks for excessive profits and exploitative sales techniques

Army boots

The UK’s conduct regulator has been at the centre of recent controversy after leaked information about an industry review caused a fall in UK insurance shares, leading to admonition from politicians and the industry. Yet a quiet revolution in the intellectual approach of the Financial Conduct Authority (FCA) might prove a more profound influence on insurers in the longer term.

Two recent reports from the FCA give the first indications since its creation in 2013 of how the regulator will apply co