News & Events

FCA: Insurance multi-firm review of outcomes monitoring under the Consumer Duty

Firms must regularly monitor the outcomes retail customers receive to identify whether they are meeting their obligations under the Consumer Duty.

Under the Consumer Duty firms must regularly assess, test, understand and evidence the outcomes their customers are receiving. Without this, it will be impossible for firms to know that they are meeting the requirements set out in the Duty.

The FCA have published an article relating to the key findings from their review of larger insurance firms’ approaches to outcomes monitoring under the Duty.

Including:

  • What the FCA did
  • What the FCA found
  • Detailed findings and good/poor practice
  • Detailed findings – the four Consumer Duty outcomes
  • Next steps
  • Interactions with PROD 4
  • Governing bodies

Read the full article here

Share this post


Preparing your Consumer Duty Board Report by 31st July 2024 - How can the Create Solutions team help?

X