More people should be helped to access cover for financial shocks, says FCA

Pure protection products play a vital role in helping families manage some of the most difficult experiences in life, the Financial Conduct Authority said (Dominic Lipinski/PA) - (PA Archive)

The City regulator has called on the insurance industry to help more people access products that support them and their families if they become critically ill or die.

The Financial Conduct Authority (FCA) said that more than half of adults do not hold a pure protection product, even though many could benefit from them. The regulator said it wants to help close the gap.