Insurance ads 'improve'
Published On 23 May 2007
The standard of advertising that insurers use to promote their products has improved markedly in recent months, according to the Financial Services Authority (FSA).In January, the FSA expressed concern after it found that 45 per cent of motor and home insurance adverts made misleading savings claims.
However, the watchdog now says that companies have improved the standards of their adverts and now just six per cent make misleading statements.
"We said in January that firms needed to shape up and fast, so this progress is good to see. What really matters now is that standards remain consistently high across print, broadcast and other advertising and we will be watching to make sure that they do," explained the FSA's director of retail themes, Vernon Everitt.
"In the meantime, consumers should always look beyond headline savings and other claims to ensure that the cover on offer is right for them."
Mr Everitt added that it was important consumer sought "jargon-free, impartial information" before choosing any insurance product.
Recently, HSBC revealed that more than a quarter of holiday makers will journey abroad this summer with little idea what their travel insurance actually covers.
