Fair Value Assessments
Updated: Sep 3, 2022
Firms have until the end of September 2022 to put in place an appropriate Fair Value Assessment for non-investment insurance products they lead including a continuing requirement to assess the value products provide to consumers.
As we approach the FCA deadline firms are reminded to ensure their Fair Value Assessment review goes a step further than their existing product review process and internal governance controls around assessing product suitability.
The LMA helpfully published a checklist for value assessments in October 2021, which is a useful starting point or point for comparison for existing processes.
Need support? CSL has the expertise and experience to guide you through your Fair Value Assessment process with an eye on the latest Conduct guidance and proportionate to the scale of your business.
If your business requires advice, support and solutions please reach out to us today for an informal discussion.
Nadia Haq: email@example.com
0203 488 4612