This article argues that having a compliance advocate at board level is not just a token gesture to satisfy regulators, but a strategic necessity.
Consumer Duty
The Risks of Marginalising Compliance
What happens when compliance is absent or ignored in the boardroom? In short, regulatory blind spots multiply and the risks – both to customers and the firm – escalate.
A Compliance Voice Is a Strategic Asset – Not a Constraint
Giving compliance a seat at the board table is about baking in long-term resilience. It’s about making your business stronger and more sustainable.
FCA publishes Wider Implications Framework meeting minutes
The regulator has published the minutes of the latest Wider Implications Framework Executive Level Meeting, and an updated log of live Wider Implications issues as of the end of November 2024.
CII findings suggest "every insurance claimant should be treated as vulnerable"
The CII has published a summary of findings from its recent ‘Road to Consumer Trust’ roundtable, which explored how firms, practitioners and other stakeholders can collaborate to raise the standard of care offered to insurance policyholders following the introduction of the Consumer Duty.
Understanding FCA Fair Value: A Broker's Perspective
The Financial Conduct Authority (FCA) has set clear expectations for brokers to assess and demonstrate the value of their offerings. But what does this entail, and why is it becoming so challenging when, as a sector, the general insurance market has been expected to have this nailed by now?
Which? Report Finds Insurance Prices Still Too High for Pay-Monthly Customers
Consumer group Which? has called for the Financial Conduct Authority (FCA) to step in following its recent report, which revealed that pay-monthly customers were still facing higher insurance costs.
Understanding Vulnerable Customers in the Insurance Industry
Understanding and supporting vulnerable customers is crucial in the insurance industry. It's essential to be able to recognise the characteristics and drivers of vulnerability to ensure fair treatment and appropriate support. This article examines the key principles and strategies to engage with and assist potentially vulnerable individuals.
Unlocking Financial Support for Neurodiverse Individuals
Neurodiversity encompasses a wide range of neurological differences, including dyslexia, dyspraxia, autism, and ADHD, among others. While these differences bring unique perspectives and talents to the table, they also present distinct challenges, especially in managing finances.