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.
Consumer Duty
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.
Supporting Victims of Economic/Financial Abuse
The FCA recently published a blog written by Joanna Legg, FCA Head of Consumer Policy & Outcomes, calling for more collaboration across the financial services sector in improving the outcomes of victims of domestic and financial abuse. This article looks at the ways in which the insurance industry could play an important part in detecting abuse, providing support to victims, and securing better consumer outcomes.
The FCA Business Plan 2024/25 and Supporting Information
The FCA has set out a programme of work for the final year of its 3-year strategy. The planned programme of work builds on progress made over recent years to become a “more outcomes-based, assertive and data-led regulator”.
Diversity and Inclusion in the Financial Sector – Expectations for ‘Small Firms’
Diversity and inclusion are central to firms’ roles as businesses and employers. The regulators have been taking increasing steps to enhance diversity and inclusion within the financial sector. What can small businesses do to improve measures for diversity and inclusion?