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The National Franchised Dealers Association (NFDA) has raised their concerns following the announcement that the Financial Conduct Authority (FCA) is proposing a number of changes to the way GAP insurance is sold.
The FCA began their investigation into GAP insurance in July 2013 and has this week released the provisional findings of their market study into general insurance add-on products.
Sue Robinson, NFDA Director comments, “The NFDA are concerned that the changes to GAP insurance could affect dealerships and actually cause significant detriment to consumers rather than address the issues the FCA perceive with the market.
“We will be reviewing and responding to today’s outlined proposals”.