PPPP: The PRA’s Prudent Person Principle

PPPP: The PRA’s Prudent Person Principle

At the end of May 2020, the PRA published SS 1/20, its Supervisory Statement clarifying its approach to using the Prudent Person Principle (PPP) in assessing prudency of investment. Kenneth Underhill looks at what this means for Solvency II firms including insurers, mutuals and third country branches.

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And Don’t Forget: Brexit!

And Don’t Forget: Brexit!

Many in recent times had forgotten that Brexit was still a significant issue or perhaps had overlooked it while dealing with more pressured concerns of seeking to ensure their business and staff were surviving. Kenneth Underhill looks at recent developments and what they mean for firms.

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Product Value – What Price Customer Loyalty?

Product Value – What Price Customer Loyalty?

The FCA recently released updated guidance for insurance firms to assess the impact of Covid-19 on the value of their insurance products. Craig Umbleja considers the implications in the context of their product review obligations under PROD 4 and considers how firms can proceed to build trust, engagement and loyalty with their customers.

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Setting The Right Insurance Culture

Setting The Right Insurance Culture

With the FCA and PRA expecting Insurance firms to focus on culture as the next big step beyond TCF and Conduct risk, setting the right culture in your organisation is so important. Cultural Change is often described as the hardest and the last thing that changes in an organisation. But it need not be like that. Justin Ward explores the issues.

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