Insurance Compliance

The route from the underwriter to the insured is paved with opportunities for misunderstanding. Robin Wood outlines ways to ensure communication is clear.

The FCA has now published its Policy Statements on the implementation of the SMCR, which will, for insurance brokers, be effective from 9 December 2019.

The team at RWA has compiled its quarterly review of the Financial Conduct Authority's communication documents, covering the period from April - June 2018.

If you are an appointed person or are responsible for compliance within your firm, it is important that you scan through the review, to keep up to date with the latest FCA documentation.

Here are a couple of tips, which each broker may wish to consider...

The FCA has announced that it will be continuing with the Live & Local events around the UK. 

The timeline for the FCA's move has been confirmed.

Firms need to establish definitive guidance about work processes so that ambiguity and confusion are eliminated.

Setting up compliance and training and a budgetary structure within a company can pose a number of problems.

Under IDD, everyone within the industry who sells, transacts or processes contracts in relation to the sale of insurance products will need to accrue a minimum number of CPD hours. Stu Rolls, director of e-Learning at RWA, outlines how the Aviva Development Zone can help you to both meet and record CPD activity requirements.

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