General insurance pricing practices market study

General insurance pricing practices market study

The Financial Conduct Authority are introducing a package of remedies with a view to improving the way general insurance markets function.

Read our summary of the remedies which include:

1. Pricing remedy
2. Product Governance
3. Senior Management Responsibility
4. Premium Finance
5. Auto-renewal
6. Reporting Requirements

The amendments to the product governance rules and the senior management responsibilities come into force on 1 October 2021.

The pricing remedy, changes to auto-renewals, reporting requirements and premium finance remedies come into force on 1 January 2022.

If you have any questions or require further information, please do not hesitate to contact a member of the Cobra Network compliance team.