From 1 January 2022, the new FCA Pricing Practices legislation comes into force. This means providers need to make sure all pricing for general insurance products is fair, so existing customers don’t pay more than new customers.

We’ve been asked if this will affect how we price our healthcare products. The short answer is no because the legislation doesn’t apply to private medical insurance.

Of course, we already do everything we can to make sure we price our healthcare products fairly to lead to good customer outcomes.

The review of pricing practices also led to further updates on the management and governance of insurance products to ensure they continue to provide fair value, as such we have updated our processes accordingly.

You can read our statement about this on our website if you’d like to know more.
If you have any questions, please get in touch with your usual Aviva contact.