Two regulators oversee UK insurance, with different jobs. Both are accountable to Parliament, and both shape what insurers must do.
The FCA
The Financial Conduct Authority regulates how insurance is sold and run, and how firms treat customers. Its tools include product governance, the pricing practices remedy, and the Consumer Duty. If you have a conduct complaint, the FCA sets the rules but the Ombudsman resolves individual disputes.
The PRA
The Prudential Regulation Authority, part of the Bank of England, focuses on the safety of insurers: that they hold enough capital to pay claims even under stress. Its work is less visible to consumers but underpins whether your insurer can honour its promises.
What this means for you
Regulation decides what counts as a fair sale, a fair price and a fair claim. When the FCA changes a rule, premiums and products shift, which is why our regulation news tracks decisions as they land. The Consumer Duty in particular reframed the insurer’s duty to deliver good outcomes.