The FCA conducted a multi-firm review to assess whether manufacturers of general insurance and pure protection products are undertaking the necessary work to comply with PROD 4 of the FCA Handbook.
The FCA will email a letter to all firms with general insurance permissions, and those that manufacture or distribute pure protection products by the end of July 2022. This letter will explain the findings along with the actions they expect firms to take.
We have seen some quite lengthy questionnaires from manufacturers that may well take a considerable amount of time to complete.
If your firm manufactures or distributes general insurance and/or pure protection products, and you have not received the letter by the end of July, please contact the FCA at firm.queries@fca.org.uk.
Gig Review!
Lisa Cross Compliance FCA, Mortgage, PI, Switch
Well, sort of. OK, this is another Consumer Duty themed article but, following our attendance at the FCA’s Live and Local events (which we recommend you attend if you haven’t done so already), we thought we’d share our experience and highlight the main points that the regulator appears to be placing specific emphasis […]