GAP and motor-related insurance providers have been identified by the FCA as among principal firms failing to properly supervise appointed representatives.
GAP sales are starting to recover following an initial slump that resulted from the introduction of new regulations from the Financial Conduct Authority on September 1.
GAP insurance sales were flat in September, according to data from supplier AutoProtect.
UK car dealers have recorded an 11% reduction in guaranteed asset protection (GAP) insurance sales this September.
Changes to rules governing the sale of GAP insurance introduced on September 1 have already influenced consumer behaviour.
Dealers are being reminded of new regulations on how guaranteed asset protection (GAP) insurance is sold to consumers is due to come into force on September 1.
Automotive Compliance will be holding free Gap Rule Change Roadshows for retail motor dealers to cover the forthcoming regulation change in September
Car dealers selling GAP insurance have until September 1 to ensure new add-on sales rules are applied.
