In this lecture we discuss the following:
– Issues for the insurance market
– Particular difficulties for reinsurers
– Practical steps – revising your privacy notices and third party contracts.
2. Insurance Distribution Directive
– New Customer Best Interests Rule – your obligations.
– Pre-contract remuneration disclosures.
– New obligations when cross selling.
3. Senior Managers & Certification Regime
– Senior Managers Regime for individuals approved by the regulator.
New requirements for firms to assess fitness and certify employees
– Conduct Rules applying to most staff.
– Employment Issues and implications for employee references.