Britain's financial watchdog on Wednesday said it has told motor insurers they have three months to improve the value they give customers in products that top up coverage, or face potential sanctions.

"If the firms are unable to prove they’re providing fair value to their customers, they should expect further action from the regulator," Matt Brewis, director of insurance at the Financial Conduct Authority, said in a statement.

(Reporting by Huw Jones; editing by Christina Fincher)