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

hmrc

Trust Registration Service – update

Compliance , , , , , , , , ,

New rules, transposing the Fifth Money Laundering Directive (5MLD) into UK law took effect on 10 January 2020. One impact of the rules was to broaden the scope of the Trust Registration Service (TRS) requirements. you can read more about 5MLD and TRS here. In brief, the previous rules required that all express trusts that […]

Read More
Court

The Avacade saga – a summary

Compliance , , , , , , , , , ,

Most readers will be aware of the FCA’s successful legal action in what has been widely referred to as the Avacade case, which is how we will refer to it in this article. In fact, the case was brought against a number of  defendants/appellants, namely:   AVACADE LIMITED (in liquidation) (trading as AVACADE INVESTMENT OPTIONS) […]

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

Urgent update: Covid-19 Impact Survey

Compliance , , , , , , ,

We have received the following correspondence from the FCA:     “On 12 August 2021, we sent the below e-mail* informing you of our plans to issue a Covid-19 Impact Survey to firms in Tranche 2 for a fifth time. We have since identified a discrepancy with the survey links (issued between 23-25 August 2021). […]

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

CP21/25 – FCA consultation on new decision making powers

Compliance ,

The FCA is consulting on moving some decision-making from its Regulatory Decisions Committee (RDC) to its Authorisations, Supervision and Enforcement Divisions. This will give greater responsibility for decisions to senior members of FCA staff close to the matters. The consultation (CP21/25) has been published and will close on 17 September. In particular, the FCA is proposing a […]

Read More
scales

Managing conflicts of interest

Compliance , , , , , , ,

There is a longstanding regulatory principle (Principle 8) that a firm must manage conflicts of interest fairly, both between itself and its customers and between a customer and another client. Specific rules give effect to that principle. Some readers will recall the change of emphasis around conflicts of interest rules that arrived with MiFID II […]

Read More
Load More