The FCA's third full year of general insurance (GI) value measures data covers January 2024 to December 2024.
The FCA publishes this data annually to drive transparency in the market and to provide firms, consumer groups and other stakeholders common indicators of value across a range of general insurance products. These indicators include claims frequency, claims acceptance rates, average claims payout, claim complaints rate, and the proportion of premiums paid out in claims.
This publication is a factual summary only. The data is not designed to directly support consumers when making decisions about insurance products. The data is historic so may not reflect products and prices available today. If consumers have questions about the value of their insurance products, they should raise these with their insurer or broker directly. It is important that consumers understand what cover they are getting – have confidence that it provides fair value and that they are treated fairly when making a claim.
##Key points:
Despite recent cost increases for consumers in motor and home insurance, our 2024 data shows the proportion of premiums paid in claims for these core products has remained broadly consistent year on year.
The data reflects the impact of our previous intervention on GAP insurance, which some firms agreed to pause selling until they could show their products provide fair value to customers.
