Menu
General Insurance Pricing Practices: rule change mapping

We have recently issued a couple of newsletter articles relating to the changes being implemented by policy statement 21/05 “General Insurance Pricing Practices Market Study” that can be accessed from here.

To assist our clients, ATEB has mapped the relevant rules for distributors to help them be ready when the changes are to be implemented.

Please note that if you are a manufacturer or price setter the rules are lengthier and you will need to prepare so give yourself enough time to familiarise yourself with the document.

Don’t forget to check Our View about this article and the Actions Required By You

General Insurance Pricing Practices: rule change mapping

Important Note: ATEB news is intended to provide general information ONLY. The content, including any views expressed or guidance provided, does not replace the need to comply fully with FCA Rules and Guidance. Unless you have discussed news article content with ATEB, and specifically how it relates to your circumstances, then ATEB disclaims all liability and responsibility and actions arising from any reliance placed upon it. For the avoidance of doubt therefore, any reliance you place on such information without our consultation is at your own risk.

ATEB Compliance offers compliance and regulatory advice.

ATEB Suitability provides report writing software for the financial services market.

Our View

These are key changes, if not too many, for General Insurance intermediaries that are on the horizon. If you sell General Insurance to consumers you will need change your procedures following the recent policy statement.

Action Required By You

If you are a financial services firm that sells general insurance discuss with your consultant and get a copy of the rules map.
SUIT - Beautiful Reports
CREATE BEAUTIFUL
SUITABILITY
REPORTS
TRY IT FOR FREE
SUIT - Complete Control
TAKE BACK
CONTROL OF YOUR
SUITABILITY REPORT
PRODUCTION
TRY IT FOR FREE
SUIT - Comp confidence
SUITABILITY
REPORTS
WITH FULL
COMPLIANCE
CONFIDENCE
TRY IT FOR FREE
previous arrow
next arrow

About the Author

Contact Us

Brought to you by

Explore more articles in this category

Other articles that you might be interested in

Green and white male gender rest room signage

New pension nudge rules

Compliance , , , , ,

One of our clients recently received this note from a SIPP provider.     “You may already be aware that 1st June 2022 saw new FCA rules (Policy Statement PS21/21) come into force which require all pension providers to give clients a stronger ‘nudge’, in certain circumstances, towards guidance from the government’s Pension Wise service […]

Read More
https---s3-eu-west-1.amazonaws.com-fta-ez-prod-ez-images-5-2-0-7-1217025-1-eng-GB-FCA2.JPG?v1

Change to Firm Reference Numbers

Compliance ,

The FCA has advised as follows:     “We currently use six-digit Firm reference Numbers (FRNs) to uniquely identify firms, and six-digit Product Reference Numbers (PRNs) to uniquely identify funds. We’re likely to reach the six-digit limit (999999) during 2023, given the volume of applications and notifications we receive. We’re planning a move to seven-digit […]

Read More
EV Content Integration Update + Provider & Investment Library Updates

EV Content Integration Update + Provider & Investment Library Updates

Suitability , , , ,

We have completed the latest upgrade to ATEB Suitability on 27th June 2022. This update comes at no additional cost and includes a number of additions to our content management libraries and integrations. EV Following a change to EV’s risk profiling solution, we have updated the EV Risk Profiles stored within our software.  The update […]

Read More
Black and gray digital device

New notification requirement – 25 June 2022

Compliance , , , , , , ,

A new notification rule takes effect from 25 June 2022. Read on for details.     Firms will be aware that it is mandatory to notify the FCA in a number of defined circumstances. The general notification requirements are described in SUP 15. SUP 15.11 describes the detailed notification requirements in relation to breaches of […]

Read More
A man talking to the elderly couple

Ensuring the fair treatment of customers in vulnerable circumstances

Compliance , , , , , , , , ,

With Consumer Duty requirements set to take effect in Q2 2023 and ahead of the final rules being published – expected in July 2022 – firms should consider the FCA’s findings in relation to how firms are dealing with vulnerable customers so far.   In February 2021, the FCA published FG21/1 ‘Guidance for firms on […]

Read More
Load More