What key examples of good practice has the FCA highlighted from their review of firm’s Consumer Duty implementation plans?
Insurance Compliance

FCA Reviews Firms' Consumer Duty Implementation Plans
Following a review of Consumer Duty implementation plans the FCA has highlighted 3 key areas firms may need to reconsider. What does your insurance firm need to know to remain compliant?

The Importance of Inclusive Design for Insurance Firms
Inclusive design aims to remove barriers for as many people as possible, not just those with protected characteristics or characteristics of vulnerability. Why is it important for insurance firms to improve accessibility by implementing inclusive design practices throughout their products and services?

Monitoring Outcomes and Data Archiving
A key aspect of the FCA's Consumer Duty is the requirement for firms to monitor and assess consumer outcomes. What information can firms use and how can data archiving help?

What Does it Mean to be Competent?
Training and competency is a requirement for insurance firms but do brokers really understand what it means to be competent?

FCA Introduces Multi-factor Authentication
In an effort to strengthen the security of the data it receives, the FCA have announced the introduction of multifactor authentication for many of its systems. What will firms need to do?

Mandatory Data Request Issued to Principal Firms
The new rules under the Appointed Representative regime require principal firms to provide the regulator with more information on their ARs and IARs. What must firms submit under the regulator’s recent data request?

How Can Firms Assess the Value of Products and Services?
We recently looked at how the price and value outcome of the FCA’s new Consumer Duty requires firms to ensure their clients receive fair value and what fair value really means. But how can firms assess the value of their products and services?

Insurance Providers Warned Against Undervaluing Items
The FCA has issued a warning against undervaluing items when settling claims, especially at a time where more consumers are being affected by the rising cost of living.
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