FCA GI Consumer Duty and Update

We are on the final countdown to the start of the Consumer Duty the FCA has urged firms to ensure they are ready for the 31 July deadline.

The current cost of living squeeze makes it all the more vital consumers get fair value, and this should also benefit the competitiveness of the industry as firms strive to offer the best to compete for customers.

This General Insurance focused session will also include an update on Product Value Assessments where both brokers and insurers have an important role to play

We will also cover the current position on multi-occupancy insurances following intervention by the government and the FCA’s new requirements that were published on 21 April 2023.

Learning objectives - by the end of this update you will gain an overview of:-

• What is the new Consumer Duty and what will you have to do;
• A reminder as to current issues when it comes to general insurance:-
• Key aspects of the product governance rule to include product value assessments;
• Present position on multi-occupancy insurances and the ramifications of this for insurers and brokers alike.

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