Blog

June 28, 2024

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Categories: Blog

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Tags: "Regulation"

On 26 June 2024 the FCA published its findings from a multi-firm review focused on outcomes monitoring by larger insurance firms. This review highlights significant areas where firms must improve to ensure they are delivering good outcomes for retail customers. With the FCA emphasising the importance of robust outcomes monitoring, insurance firms should carefully examine these findings to identify any gaps in their current practices and consider implementing the good practices identified by the FCA.

June 18, 2024

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Categories: Blog

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Tags: "Regulation"

The FCA has recently published key harms and drivers of harms caused by Appointed Representatives (ARs) that undertake credit broking.
With the FCA promising to focus attention on oversight of ARs for all sectors, all Principal Firms should take note of these findings and address any gaps or shortcomings in their approach to AR oversight, or indeed, consider whether any of the good practices identified could be implemented within their frameworks.

May 23, 2024

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Categories: Blog

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Tags: "Regulation"

The Prudential Regulation Authority (PRA) has issued a far ranging consultation paper that is set to have a major impact for insurance firms. To help you get on top of the details and understand what’s required we’ve put together this helpful explanation of the new expectations and the steps insurers need to take.

May 14, 2024

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Categories: Blog

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Tags: "Regulation"

To help keep you on the right side of the FCA we’ve dissected their recent review on claims handling for stolen or written-off vehicles. From vehicle valuation and communication techniques to outsourcing and data collection, the FCA’s findings could significantly impact your processes and customer relationships. Ensure you’re ahead of the curve by understanding how these findings can shape the future of claims handling.

April 9, 2024

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Categories: Blog

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Tags: Diversity & Inclusion

The FCA’s consultation paper on DEI suggests firms publicly disclose their targets for transparency, accountability, and benchmarking progress. This aims for positive change but stakeholders must note potential limitations.