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FCA floats simpler rules regime for commercial insurance

City of London skyline with domestic houses in foreground
Photo: Dan Kitwood/Getty Images

Move comes after lobbying to split treatment of commercial and retail buyers to streamline competiveness.

A discussion paper on simplifying regulation in the UK commercial insurance market has been issued by UK regulator the FCA. The sector takes about £95 billion ($122 billion) in annual premiums.

Commercial insurers have lobbied for years to change rules they say treat large corporate customers in the same way as retail