by Kenneth Underhill | Mar 19, 2024 | Appointed Representatives, Blueprint Two, Brokers, Climate Change, Compliance, Consumer Duty, Culture, Digital, Enterprise Risk Management, Environmental Social and Governance, Fair value, FCA, HR, ICSR News, Insurers, IT, Kenneth Underhill, Lloyd's, Multi Occupancy Buildings Insurance, Operational Resilience, Operations, Pricing, Product Governance, Prudential Regulation Authority, Risk, Solvency, Vulnerable customers
The latest edition of Horizons, our quarterly report for senior leaders across compliance, risk and regulatory roles within insurance firms is now available. This edition covers:IntroductionThe Longer-term HorizonQ1 2024 Issues: GeneralFinancial Services Future...
by Kenneth Underhill | Mar 11, 2024 | Compliance, Consumer Duty, Fair value, FCA
Baseball may not be a major sport on this side of the Atlantic, but most people will be familiar with the “three strikes and you’re out” concept. If the multi-firm review and findings from the FCA back in September 2022 were considered ‘Strike One’ for insurance...
by Kenneth Underhill | Mar 11, 2024 | Compliance, Consumer Duty, Fair value, FCA
The Financial Conduct Authority (FCA) recently issued a damning assessment of firms’ response to the Product Governance and Fair Value rules. Whilst pockets of good practices have been cited as examples, the overarching theme in Matt Brewis’ “Dear CEO” letter of 23rd...
by Benoit Steulet | Feb 22, 2024 | Blueprint Two, Compliance, FCA, Insurers, IT, Lloyd's, Operational Resilience, Operations, Prudential Regulation Authority, Risk
This article was first published by Insurance Day in their Viewpoint section and subsequently also included in their Market Modernisation feature in February 2024. Change is inevitable and our market is constantly managing a whole variety of change programmes, each...
by Kenneth Underhill | Feb 21, 2024 | Compliance, Consumer Duty, FCA, ICSR News
ICSR has launched a new ‘Talking Heads’ podcast series, featuring interviews with members of the team, complementing our ongoing series of webinars which remain available as recordings on our YouTube channel. Episode 1 of our new podcast features Compliance...
by Kenneth Underhill | Feb 13, 2024 | Compliance, Fair value, FCA
The Current State of Play Last week the FCA announced that GAP insurers had agreed to withdraw their product on the grounds of lack of Fair Value. Those that have agreed amount to 80% of the GAP market and the other 20% have agreed to no new distribution. For those...