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Regulation moves fast. Clarity matters.

Insights and practical guidance for the Lloyd’s and London Insurance market, focused on what’s changing, what it means, and what firms should do next.

FCA Takes a Bite out of GAP Insurance

The FCA has recently demonstrated a more assertive approach to regulation under the Consumer Duty, leading multiple insurers to pause sales of Guaranteed Asset Protection (GAP) insurance. In the following article we delve into the FCA's actions, the implications for firms, and the potential changes in the insurance industry....

Consumer Duty Update – Are We Making the Right Shifts?

The FCA’s communications on the Consumer Duty published in February shed light on how firms are doing in preparation for the Duty. Here’s a snapshot of the key research findings and the considerations Padda Consulting would urge firms to now look at more closely....

Consumer Duty – What Best (and Bad) Practice Looks Like

In February 2024, the FCA published the findings of its recent review, listing examples of good practice, as well as areas for improvement, among firms working to meet the new standards....

Your Wake-Up Call for Non-Financial Misconduct

With a rising tide of non-financial misconduct within corporate settings, the FCA is taking action to reinforce a culture of inclusivity and positivity. Misconducts such as bullying, sexual harassment and discrimination significantly impact a firm's culture, and consequently, its stakeholders. Despite the FCA's efforts, there’s been an alarming increase in...

Making sense of a new target framework for DEI in insurance

We brought together a stellar panel of DEI experts to discuss the hot topics around DEI, including how to create DEI strategies, set and monitor targets, and cover non-financial misconduct. Here’s the background to the roundtable and the participants....

Lies, damned lies and statistics: digging beneath the numbers on DEI.

Data – especially targets – are easy to get wrong, misinterpret or apply ineffectively. None more so than in how firms are building and reporting on their DEI strategies. This was the first topic our roundtable panel debated – here are the key outtakes you should know about....

Helping principal firms be AR ready

As a principal firm, understanding and aligning with the FCA’s new rules for Appointed Representatives (ARs) is critical to your business operation and reputation. With the FCA set to increase its engagement and supervision of the rules in the coming months, we’ve put together the following guide to outline the...

A Day in the Life of Suneeta Padda: A Life Less Ordinary

From an arranged marriage, motherhood, divorce, and tragedy, to becoming a leading figure in the regulatory and compliance world. Suneeta Padda’s life and career journey has been nothing short of extraordinary. Read about the twists and turns along the way....

The Year Ahead for Insurance Regulation: How to handle and prepare for change

2024 is set to unleash a wave of new regulatory changes on the insurance sector. To ensure your business doesn’t catch a cold we’ve put together this simple guide which shows how to maintain good regulatory health. We’ve also put together a health check of key questions that you should...

Overview of Key D&I Developments in 2024

To help you navigate the FCA’s Consultation Paper we have summarised the key points that are likely to affect you. This short read highlights the key areas you need to be aware of....

May 2023 Newsletter

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April 2023 Newsletter

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