Lloyd’s Market Association guide on FCA Pricing & Product Reviews

November 2021

Lloyd’s Market Association issues updated guidance on FCA Pricing Practices and Product Reviews 

The LMA has issued updated guidance on the forthcoming FCA Pricing Practices rules and associated Product Reviews.  The new rules require carriers to provide information on most products, including features, target market and those whom the product is not likely to be suitable for. There is also a reciprocal requirement for intermediaries to report details of remuneration (including fees and commission) throughout the distribution chain.

We suggest any Lloyd’s & London Market associated firms take the time to view the updated guidance and review the useful manufacturer/distributor information sharing template.  The Fair Value assessment template mentioned by BIBA on its web page is available to BIBA members on its website.

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