| Link(s): | CII publishes Consumer Duty good practice guide for Insurers good-practice-guide-consumer-duty-insurance.pdf (cii.co.uk) |
Context
In support of the Financial Conduct Authority’s (FCA) flagship regulatory reform, the Consumer Duty, the Chartered Insurance Institute (CII) has created a good practice guide for Insurance firms.
Key points to note
The CII guide covers the following topics:
- Organisations’ systems and culture
- Interaction between Consumer Duty and Product Governance
- Timeline for changes
- Case studies (good and poor practice)
- Scope of the Consumer Duty
Next actions
None – for information and awareness.