Press releases – Page 2

Fairer Finance has appointed Helene Brichet as Chair of its Consumer Advisory Board (CAB). Helene steps into the role with a distinguished track record in senior finance positions across major international firms.

Fairer Finance’s Trust in Private Medical Insurance (PMI) Index has fallen for the first time since the consumer group began polling 10,000 policyholders in Spring 2023.

James Daley of Fairer Finance highlights that over half of people will need to use housing wealth to sustain their retirement by 2040. While the FCA is beginning to address regulatory barriers, he urges the Government and public agencies to also tackle economic and social obstacles. Unlocking this potential could boost consumer spending by over £20bn annually.

Fairer Finance has launched a new set of product ratings for online will-writing services amid growing concerns that the rise in DIY wills could lead to future disputes or even render wills invalid.

Public trust in the insurance industry has dropped to its lowest level in four years, according to the latest Trust in Insurance Index from Fairer Finance. Despite recent falls in car and home insurance premiums after two years of large increases, trust in insurers continues to erode, signalling a deeper, long-term decline in public confidence.

Fairer Finance supports the removal of duplicate rules but warns it's too early to do so, as many firms are still struggling to meet Consumer Duty standards. They urge the FCA to provide clear guidance to prevent firms from easing off compliance efforts during this critical phase.

Half of UK households (51%) expected to require housing wealth to fund their desired later life living standards

Tim Hogg, director at Fairer Finance, responded to the FCA's announcement on banks' treatment of bereaved customers by stressing that families often face emotionally draining and overly complex banking processes after losing a loved one, marked by delays, repetition, and unnecessary steps.

In response to the announcement today that the Complaints Commissioner has upheld a complaint against the FCA about the way it handled Safe Hands (funeral plan provider), James Daley, managing director of Fairer Finance, the consumer group and ratings provider, commented:

The UK financial watchdog will probe whether customers are being ripped off by insurance policies designed to financially protect them and their families if they die or fall ill.

Ts&Cs from travel insurance and investment firms average 24,000 words, on par with Shakespeare’s Romeo & Juliet

Independent consumer group Fairer Finance has launched a new set of ratings designed to help consumers compare easy access savings accounts based on consistency and longevity of rates—not just headline offers.