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FCA scrutiny: how can insurers demonstrate ‘fair value’ to customers?

FCA scrutiny: how can insurers demonstrate ‘fair value’ to customers?

by Marcus Elwes | Jun 1, 2021 | DAS Insight

By the very principles of the premiums of the many paying for the losses of the few, insurance has long had a bit of an image problem in the public consciousness. “See the small print” is not something anyone who bought insurance to cover a risk wants to hear if they...
Coverholder/MGA business and the IDD – what should carriers be doing NOW?

Coverholder/MGA business and the IDD – what should carriers be doing NOW?

by Marcus Elwes | Aug 13, 2018 | DAS Insight

The LMA have also provided some first class guidance for UK Coverholders here. I wait to hear from Lloyd’s as to whether a co-ordinated approach (similar to GDPR compliance) to their in-scope Approved Coverholders is being planned or not. However, pending this,...
Creating an appetite statement with your Conduct Risk MI

Creating an appetite statement with your Conduct Risk MI

by Marcus Elwes | Nov 1, 2017 | DAS Insight

Rather than Managing Agents simply seeking the data, consolidating it into a workable reporting format and then creating reports, including measurements against the appetite statement, for their Board, Risk Committee, Regulator etc., should they not be liaising...
What should we be looking for in our Conduct Risk MI

What should we be looking for in our Conduct Risk MI

by Marcus Elwes | Oct 12, 2017 | DAS Insight

What is a ‘norm’ is, of course, an entirely subjective test, as opinions may differ wildly between what I, e.g. as a DA Manager or Compliance person, may think and what my colleague on the underwriting or claims side might think. Oh, and what about the Coverholder...
What should you be doing with your Conduct Risk MI?

What should you be doing with your Conduct Risk MI?

by Marcus Elwes | Oct 3, 2017 | DAS Insight

I further believe that some will be achieving collection of this data via the monthly bordereaux declaration, others via separate declaration requests sent out regularly to brokers and Coverholders, some perhaps a combination of the two. I wonder if (dare one whisper...

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