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.
How Can Insurance Brokers Support Customers Experiencing Financial Difficulty?
The FCA’s Sheldon Mills recently wrote that ‘firms must take immediate action to make sure they support customers now and in the challenging months ahead’, but how can insurance brokers ensure their clients are supported through these difficult financial times?
What Does the Price and Value Outcome Mean for Insurance Brokers?
The price and value outcome of the FCA’s new Consumer Duty focusses on ensuring that products and services offer fair value to consumers. How does it interact with the other elements of the Duty and what does this mean for insurance brokers?
How Can Insurance Firms Effectively Review Products and Services?
The FCA’s Consumer Duty requires the regular review of products and services and their distribution methods but how can insurance firms gather information to ensure that the needs, characteristics, and objectives of the target market continue to be met?
3 Things Insurance Firms Should Consider Before the Next Recession
Companies such as Meta, Twitter, Amazon and more have named the possibility of a recession as one of the major contributing factors to mass layoffs. What can your insurance firm do to help navigate the possible upcoming recession?
The Advantages of Inclusive Design
Last week, we looked at how the inclusive design method can be used in the development of products and services. But why might firms choose to overlook the potential pitfalls and focus on the advantages?
SMEs Are Facing An Increasing Risk Of Underinsurance
Small to medium-sized enterprises (SMEs) are facing significant levels of uninsured risk, according to recent research. This article looks at some of the key points highlighted from the study and the role brokers will have to play to mitigate these risks in the near future.
Inclusive Design for Products and Services
The products and services outcome rules require firms to ensure that all products and services meet the needs, characteristics, and objectives of customers in the identified target market. How can firms ensure they are taking these into consideration when designing a product or service?
New Appointed Representatives (ARs) Regime Deadline Approaches
Principal firms and their ARs have only a month remaining to meet the new requirements on information and reporting. What are some of the changes and how much of an impact will it have for firms?