The original headline is: "FCA Presses Ahead with Insurance Simplification: Key Points from Consultation Paper 26/22"

Short summary

The FCA published Consultation Paper CP26/22 proposing to simplify UK insurance conduct rules by narrowing territorial scope, removing prescriptive disclosure requirements, and giving firms more flexibility in how they deliver customer disclosures. The reforms acknowledge the rise of digital and AI-enabled distribution channels and align with the FCA's Consumer Duty framework as the primary consumer protection mechanism. Consultation closes 4 September 2026 with rules expected to take effect shortly after.

• •FCA proposes narrowing ICOBS and PROD 4 territorial scope to reduce duplicative overseas regulation
• •Prescriptive disclosure requirements on intermediary status and remuneration would be removed to reduce information overload
• •Firms gain flexibility to choose default disclosure medium, enabling digital and AI-enabled customer journeys

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