The FCA have found following a thematic review that vulnerable customers are often not treated fairly. In fact many Insurers pricing models have taken significant advantage of these customers, often the more vulnerable the customer the more the insurer has loaded rates at renewal. Some of the UK's largest institutions have been guilty of proactively targeting these individuals and the regulator has had enough of Insurers and brokers balancing their books on the most vulnerable in our society.
Alan Chandler, Chartered Insurer, who is widely regarded as one of the top insurance trainers in the UK will look at how firms have been treating customers unfairly including some disturbing case studies. The presentation will include how the FCA define vulnerable customer, the measures all firms are expected to put in place and how the requirements on all firms are changing to make sure the most vulnerable are protected going forward. This continues to be a hot topic for the regulator and failure to comply leaves firms open to disciplinary measures from the regulator. This presentation is aimed at brokers, underwriters, claims staff and IFA's.
Further information can be obtained on Alan's website - http://www.alanchandler.co.uk/
At the end of this event, the delegate will be able to identify:
- Background of the FCA's thematic review and understanding why this became an issue
- Who are Vulnerable customers? understanding who this definition includes
- How to recognise vulnerable customers
- How to deal with Vulnerable customers
- What firms should do/have in place
Alan has undertaken operational management roles in three major global companies - NatWest Insurance Services, RBS Insurance Group and Allianz Insurance. He has run underwriting, broking and claims functions. Ten years ago he set up his own training company, something that he had always longed to do as he is passionate about training. Since then he has trained well over a thousand people to become ACII qualified including six individuals who have achieved the best ACII completion in the whole of the United Kingdom.
Refreshments will be served before the talk from 5:30pm onwards.
If you know of any other CII Members who would like to attend but have not received the invite, please ask them to update their CII Communication Preferences at https://www.cii.co.uk/my-cii/preferences
This demonstrates the quality of an event and that it meets CII member CPD scheme requirements.
1 hour's CPD can be claimed for this event if relevant to your learning and development needs.
It is recommended that you keep any evidence of the CPD activity you have completed and upload copies to the recording tool as the CII may ask to see this if your record is selected for review. Details of the scheme can be viewed online at www.cii.co.uk/cpd.