This market briefing will focus on UK regulatory framework for commercial insurance distribution and product governance requirements for commercial customers a well as practical guidance.

Description

Over a number of months, there has been continued references by the FCA in published documentation and in wider discussions with IUA on how policies are developed, drafted and distributed and the interaction between insurers, their clients and brokers therein.

This dynamic has come to the fore particularly as market conditions have evolved and has been referenced by the regulator in a number of classes of business, in particular some areas of professional lines risks. Whilst insurers maintain robust processes and checks in place to ensure compliance with regulatory rules, a refresher on some of the core Handbook provisions would be of value to underwriters, product development and compliance practitioners.

Gain an insight into

• The UK regulatory framework for commercial insurance distribution, post IDD
• Overview and practical guidance on the product information requirements for commercial customers
• Overview of product governance requirements for commercial customers (including recent COVID-19 related updates/guidance)
• Regulatory round-up / updates – including value, pricing and the regulator’s approach

Speakers

• Matthew Griffith, Partner, RPC
• Jonathan Charwat, Senior Associate, RPC