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...
The Consumer Duty sets a higher standard of consumer protection in financial services. It came into force on 31 July 2023 for new and existing products, and will apply to closed products and services from 31 July 2024. The FCA are livestreaming an event on 31 July 2024 to mark these...
We are looking forward to the upcoming annual Style in the City event, hosted by The Insurance Institute of Manchester. It will take place on Friday 28th June 2024 at The Midland Hotel in Manchester. The fashion show is 90's themed where we will be transferred back to the decade...
We are supporting The Insurance Charities Awareness Week. Who are The Insurance Charities? The only charity for the UK and Irish insurance industry, providing support for current and former insurance employees and their dependants since 1902. Last year we awarded over £1.4 million to support insurance people in need. The Charity can help...
Unfortunately, the previous date in April was cancelled due to unsuitable weather. Next month on the 21st June, Karen Shenton will be taking part in a Wing Walk. She will be taking to the sky on the top wing of a Boeing Stearman biplane at 135mph, at a Yorkshire airfield,...
Congratulations to our very own Adrian Golifer who completed the McLarens BIBA 2024 5K run in aid of the Alzheimer's Society. Adrian and the team have raised an amazing £165. There is still time to raise more for this wonderful charity
This year's BIBA conference is taking part on the 15th and 16th May in Manchester. We will be meeting clients and associates at the Midland Hotel, talking everything compliance and training, especially the launch of our new courses; Compliance Academy and SMCR Bootcamp. We will also be discussing where you can...
Firms must handle claims promptly and fairly, in line with their obligations under ICOBS 8.1. In this context, the FCA expect firms’ processes for valuing vehicles to identify a fair estimate of their market value. The FCA recently undertook a review after seeing evidence that some consumers are being offered settlement...
Next month, our very own Karen Shenton will be taking part in a Wing Walk. She will be taking to the sky on the top wing of a Boeing Stearman biplane at 135mph, at a Yorkshire airfield, raising money for the charity Mummy's Star. Mummy’s Star is the only charity in...
Under the Consumer Duty, firms should act to deliver good outcomes for all customers, including those with characteristics of vulnerability. The FCA will conduct a review into how firms are acting to understand and respond to the needs of customers in vulnerable circumstances, and share their findings by the end of...
