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FCA proposes new category for large commercial insurance customers

Man looking up inside the London stock exchange
The FCA has said the change will reduce costs but still ensure protection against risk. Photo: Cart Court/Getty Images

The UK insurance sector has welcomed the proposals, but critics argue deregulation under political pressure could be risky down the line.

Proposals to get rid of the “outdated or duplicated” rules around insurance policy, and introduce “simpler and more straightforward rules” have been published by the UK FCA).

In a press release, the regulator has said the new proposals could reduce costs for businesses and consumers, provide wider access and,

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