FSA tells firms to carry out immediate Protection Review

Latest News - 30th December 2010

The FSA found significant failures by firms to comply with the oral disclosure requirements contained in the ICOB (Insurance Conduct of Business) Sourcebook when carrying out the post-implementation review of the ICOB rules.

The review found that firms were not making it clear to customers whether they were being given advice or information. They also found that product features were explained poorly and significant exclusions and limitations were often not highlighted.

For more information on the FSA's requirements for the sales process review and to see the experience that  Enterprise Learning has in this area of work, download the Immediate Protection Review.