The FCA has published their 2018 Sector Views. Here are a few of the FCA’s focus areas relating to General Insurance.
Operational resilience
Cyber attacks are becoming more frequent and widespread. The issue is potentially made worse by the use of complex and legacy IT systems and greater level of data sharing between firms.
Firms need to ensure they are ready to meet the standards of GDPR.
Financial crime and fraud continues to increase.
Appointed Representatives
A thematic review in 2016 found that over half of the principal firms involved could not consistently demonstrate effective risk management and control over the activities of their Appointed Representatives. The FCA remains concerned about governance issues around Appointed Representatives.
Product Suitability
Many consumers focus on the headline price and may not realise that the product they buy is not suitable until they try to make a claim.
Renewal Pricing
Still on the subject of pricing, switching rates remain low. It is too early to assess whether the new disclosure requirements will be effective in encouraging consumers to shop around at renewal time.
Pure Casino Vip Program Review Uk Is It Worth Playing More
Uncategorised
Pure Casino Vip Program Review Uk Is It Worth Playing More You can play the slots for as long as you want online without having to invest a penny since software providers often include a demo version in all their games, typically responsible for substituting the other symbols apart from the bonus symbols. Pure casino […]