The Financial Conduct Authority has launched a review into the Senior Managers and Certification Regime (SMCR) and has opened a consultation where firms can submit feedback to help identify potential changes.
FCA Compliance
A Broker’s Duty of Care – Creating a Glossary of Insurance Terms and Practices
This article, provided by guest authors Robin Wood and Roger Franklin, continues our series looking at an insurance broker’s duty of care and improving the quality of your Professional Indemnity risk management. This week looks at good practice when creating a glossary and provides examples that firms can build on.
Supporting Customers Throughout the Product and Service Lifecycle
Under the Consumer Duty, firms must enable and support customers to pursue their financial objectives throughout the customer journey. In this article, we will look at how you can support your customers throughout the lifecycle of a product or service.
A Broker’s Duty of Care – Highlighting Significant or Onerous Terms
This article, provided by guest authors Robin Wood and Roger Franklin, continues our series looking at an insurance broker’s duty of care and improving the quality of your Professional Indemnity risk management. This week looks at 6 things brokers should consider when compiling a glossary of significant or onerous terms.
A Broker’s Duty of Care – Meeting Clients’ Demands and Needs
This article, provided by guest authors Robin Wood and Roger Franklin, continues our series looking at an insurance broker’s duty of care and improving the quality of your Professional Indemnity risk management. This week looks at ensuring that a client’s Demands and Needs are properly met and how they could be the author of their own loss.
A Broker’s Duty of Care – Treating Customers Fairly
This article, provided by guest authors Robin Wood and Roger Franklin, continues our series looking at an insurance broker’s duty of care and improving the quality of your Professional Indemnity risk management. This week focuses on treating customers fairly and ensuring your clients’ expectations are met.
A Broker’s Duty of Care – Assessing a Client’s Understanding
This article, provided by guest authors Robin Wood and Roger Franklin, continues our series looking at an insurance broker’s duty of care and improving the quality of your Professional Indemnity risk management. This week focuses on how insurers can assess a client’s level of insurance knowledge to ensure they highlight all necessary information.
Is Your Firm Doing Enough to Ensure That Your Insurance Products and Services Meet the Needs of Customers?
Under the Consumer Duty, firms are required to ensure that all products and services meet the needs, characteristics, and objectives of customers in their target market, including those with protected characteristics or characteristics of vulnerability. How can inclusive design help to achieve this?
A Broker’s Duty of Care – Ensuring Clients Can Make Informed Decisions
This article, provided by guest authors Robin Wood and Roger Franklin, continues our series looking at an insurance broker’s duty of care and improving the quality of your Professional Indemnity risk management. This week focuses on the reasonable steps brokers must take to ensure that clients can make informed decisions.