WEBINAR: FCA Business Interruption Test Case
The Insurance and Actuarial Society of Glasgow's Professional Development Group is happy to announce that their next CPD event will focus on the FCA’s ground-breaking test case at the High Court. While the full hearing won’t begin until 20 July 2020 (and is scheduled to take 8 days) we have already had two days of initial arguments and some of the insurers’ counsel have made interesting responses to the issues being raised by the FCA.
The FCA has conducted a huge amount of assessment of a number of wordings (1,200 brokers and clients alike fed into their request for information) and this event will examine the weaknesses in some and the strengths in others and illustrate the dangers inherent in unclear wordings. Insurers and brokers have new requirements imposed on them as a result of FS20/8 (effective from 17 June 2020). At the same time it will highlight the exposure for insurance brokers all of whom will have arranged these covers for clients (and some will be classed as co-manufacturers under PROD) and encourage them to reassess their advice process under ICOBS and their overriding professional duty to clients.
Learning objectives - by the end of this webinar delegates will gain insights into:
- The Test Case and why brought
- Insurers’ defences
- What FS20/8 requires insurers and brokers to do
- The threat to brokers in terms of the advice process
- ICOBS and how to ensure your sales process is robust
It is relevant to general insurance brokers/intermediaries, their insurers and any other market participants.
Branko Bjelobaba FCII has worked for 32 years across the sector and latterly at PwC and GISC and has led his own consultancy practice for 16 years. He works closely with BIBA (and has published its compliance manual since 2004) and the CII and has provided many well-received (even entertaining!) training events throughout the UK. He is a recipient of the Thomson Reuters Compliance Personality of the Year Award and the London Market People Award for Legal and Compliance.
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.