Ciaran Whelan looks at the FCA's position on GAP products and the likely ramifications for the dealer. Before the end of 2014, the Financial Conduct Authority is expected to deliver a final version of their major report into the insurance add-ons market, which includes dealer sales of GAP products, with new regulation to follow. The basic position of the FCA is that the way in which dealers sell GAP at the point-of-sale disadvantages customers and ways of introducing greater competition are needed. These are the two key ideas affecting GAP that it has mooted so far.
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