The FSA may challenge firms using terms which it views as unfair under the Unfair Terms in Consumer Contracts Regulations 1999 (the Regulations). This can lead to firms providing an undertaking to the FSA not to use terms which may be considered unfair. The FSA has a duty under the Regulations to tell the Office of Fair Trading (OFT) about the undertakings it receives. The OFT publishes these undertakings on its Consumer Regulation website. The FSA also publishes the undertakings on its website.
The FSA has now published on its website an undertaking given by UK Insurance Limited. In this undertaking UK Insurance Limited undertakes not use certain of its terms which the FSA may consider unfair.
View FSA undertaking - UK Insurance Limited, 16 September 2008