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September 16, 2024
Following a review of general insurance (GI) and pure protection (PP) manufacturers’ and distributors’ product oversight and governance arrangements, the FCA has published a Thematic Review – TR24/2 – “Product Oversight and Governance thematic review – General Insurance and Pure Protection (PROD 1.4 and PROD 4)”. At 43 pages it is lengthy and detailed. The report sets out the overall findings of this review as well as the FCA’s next steps and expectations.
Published as two separate Hot TopICS, part 1 focuses on the FCA’s high-level views and requirements for manufacturers and distributors; and the specific findings for distributors (including as co-manufacturers). In part 2, we cover the review findings for manufacturers.
Both Hot TopICS include the areas the FCA has indicated require improvement, and examples of better practice.
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