They are failing to investigate any…
They are failing to investigate any actuaries involved in the loyalty premium or price walking scandal. The FCA is bringing the practice to an end in January 2022, after they figured billions of pounds was made from this unethical practice of overcharging existing customers compared to new for the same motor or home insurance. Actuaries specialise in pricing insurance and it is a fundamental competence and role of a chief actuary to sign off the pricing for such companies. FRC have a mechanism to investigate and discipline actuaries for "public interest" cases but are failing to do so here despite billions of pounds of rip-off and arguably disproportionately affecting elderly. Look at reviews all over trustpilot for insurance companies and you'll see people complain their renewal premium was much higher than the same premium had they been new customers. This is no accident but FRC is failing to address the actuary 'professionals' involved.