Following a review, the FCA in their Consumer Vulnerability paper no 8 found that “many consumers in vulnerable circumstances are not receiving fair treatment from their financial services providers”
As insurers we should proactively be supporting customers who find themselves in a vulnerable position and ensure that they are not taken advantage of and ensure that we remain professional, transparent, empathetic and inclusive at all times.
At the end of this event, delegates will be able to: understand:
• The background of the FCA review and understand why this became an issue
• Who are Vulnerable customers?
• Who we should include in this definition
• How to recognise vulnerable customers
• How to deal with vulnerable customers
• What firms should do/have in place
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. Allan has commented that this continues to be a hot topic for the regulator and failure to comply could potentially leave firms open to disciplinary measures from the regulator. This presentation is aimed at all Insurance staff.
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.