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 today 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 cause significant problems overall for the industry.
“We will be reviewing and responding to today’s outlined proposals”.
NOTES TO EDITORS:
The Retail Motor Industry represents the interests of operators in England, Wales, Northern Ireland and the Isle of Man providing sales and services to motorists and businesses. The RMI has a formal association with the independent Scottish Motor Trade Association which represents the retail motor industry in Scotland.