We recognise that the Regulatory landscape is constantly evolving and insurers need to comply with the rules stipulated by the Regulator.
We have robust procedures in place to ensure we help our Principals meet their obligations under the FSA rules.
We have firm specific processes and controls in relation to the following:-
- An extensive Training & Competence Scheme
This scheme fully reflects FSA's requirements of our instructing Principals and covers every aspect of our business activity. In particular it incorporates our live case review system.
- Treating Customers Fairly
We are mindful of the FSA's expectations of insurers and their agents and have therefore reviewed all aspects of our business to fully reflect both the letter and spirit of those obligations. As part of the ongoing review programme we have an extensive Customer Satisfaction Programme embodied as part of our TCF activity.
- Complaints Procedures
Whilst our complaints procedure is initially designed to robustly record, investigate and resolve complaints, we have taken measures to ensure that in addition we learn from any perceived shortcomings and feed through the lessons learned to our TCF programme.
- Business Continuity Plan
We recognise the BCP as an essential aspect of our compliance programme and have therefore undertaken extensive risk modelling to anticipate a wide variety of threats which could be posed to critical aspects of our business.
These include CBRN, terrorist attack and pandemic situations, all of which pose potential threats.
In consequence we have now incorporated our responses into a suite of documents covering the perceived risks which taken together constitute our BCP
- Information Security Plan
Robust audits have been conducted into handling of data in both electronic and paper form so as to ensure consistency with IS027001.