Consumer Duty

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?

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?

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?

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?

Last week, we looked at manufacturer's responsibilities under the products and services outcome of the Consumer Duty. But what does it mean for distributors?

The product and services outcome rules are broken down into those that apply to manufacturers and those for distributors. What are the implications for manufacturers?

What must firms consider under the products and services outcome of the FCA’s new Consumer Duty?

The terms ‘equality’ and ‘equity’ are often used interchangeably, but in practice they are completely different. In this article we explore what they mean and how they can be implemented.

Last week, we looked at how behavioural biases might affect consumers’ financial decision making, but how should these biases be considered by brokers in relation to the new Consumer Duty?