Consumer Duty implementation 31 July 2023 and beyond - practicalities for the insurance industry

Please note this webinar has now taken place.

The new Consumer Duty will come in to force from 31 July 2023, which will introduce a higher and more consistent standard of consumer protection for retail financial services consumers.

Insurers, brokers and other firms in the insurance industry will be required to ensure that their culture is aligned to the holistic approach expected by the regulator. Firms will be required to focus on and monitor customer outcomes of their products and services, putting customers’ interests at the heart of their business. Firms will also be expected to rectify and remediate where consumers are not receiving good outcomes, thereby enabling and supporting them to pursue their financial objectives and avoiding foreseeable harm.

We are delighted to be hosting a webinar where our speakers will provide:

• A reminder of the key elements and scope of the duty and responsibility for compliance.
• An assessment of the FCA's expectations.
• A look at practical impacts from 31 July for firms: 
  1. in their interactions with consumers and SME's
  2. in relation to D&O cover
  3. providing insurance products and for those insurers who insure financial institutions

This webinar will be of interest to anyone involved in the general insurance industry and particularly in D&O and financial lines.