Consumer Duty
Trade Voice: SIB’s Laura Hancock on what the Consumer Duty asks of brokers
Laura Hancock, chair of the Society of Insurance Broking, argues the forthcoming Consumer Duty represents a refreshing evolution rather than a revolution in how brokers deal with customers.
Trade Voice: Foil on the Consumer Duty’s underappreciated impact of claims handling
Jonathan Drake, partner at Forum of Insurance Lawyers member firm DWF, and Nicola Critchley, DWF partner and Foil president, warn there is ample scope for firms to run foul of the FCA’s requirements for claims handling under the Consumer Duty.
Editor’s Picks: Musk’s move, navigating losses and regulatory improvements
As we approach the end of February, the headlines that caught your attention on Insurance Post this month show the challenges and opportunities facing the industry one year on after Russia invaded the Ukraine.
Insurance Post Podcast: Are insurers ready for the FCA’s Consumer Duty?
Insurers who think they've already met the Financial Conduct Authority’s Consumer Duty requirements shouldn't be "resting on their laurels", DAC Beachcroft has warned.
Still 'room for improvement' in Consumer Duty prep, says FCA's Brewis
Matt Brewis, director of insurance at the FCA, has said that while most general insurers are on track to meet the regulator’s Consumer Duty requirements, there is still “room for improvement”.
View from the top: LV’s Michael Lawrence on keeping customer confidence in uncertain times
Michael Lawrence, distribution and underwriting director at LV Broker, says the industry can’t rely on good fortune to maintain customer confidence in the face of the challenges that 2023 will bring.
FCA warns firms against complacency six months out from Consumer Duty deadline
The Financial Conduct Authority has said that some firms’ Consumer Duty plans suggest they are “over-confident that their existing policies and processes will be adequate” following a review of the largest in-scope businesses.
FCA consults on Covid guidance regarding customers in financial difficulty
The Financial Conduct Authority has launched a consultation to update guidance, introduced during the Covid-19 pandemic, to support insurance customers in financial difficulty.
View from the Top: Peter Thompson, CEO of BGL Insurance on why the perfect insurance customer experience doesn't exist
Peter Thompson, CEO of BGL Insurance, says the way insurers support customers during the cost-of-living crisis will separate the wheat from the chaff in the industry.