Car dealers' GAP sales fall 16-23% following FCA compliance legislation
The Financial Conduct Authority has revealed that its GAP insurance sales legislation has led to an average fall in car dealers’ sales of the add-on insurance product of between 16 and 23%. The FCA published the results of a report into the effects of new compliance legislation and claimed that the changes – designed to give consumers time to consider a GAP purchase and also increase competition to reduce costs – had resulted in £26 million to £28 million of “ongoing consumer
