Conduct Risk for Insurers: Responding to a Fundamental Shift in Regulatory Expectations
In conjunction with the Chartered Insurance Institute, Oliver Wyman interviewed 22 CEOs and senior executives from across the UK insurance industry to understand their views on, and response to, the Financial Conduct Authority’s Conduct Risk agenda. Participants covered a broad representation of the industry, including life insurers, general insurers, health insurers, and composites. This report presents our findings from the research and outlines the actions we believe insurers need to take in order to respond to the FCA’s main areas of concern.
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Table of Contents
1. The conduct era: more than just a risk type
2. Insurer perspectives and industry reaction
3. Moving beyond TCF
4. The response
5. The insurance industry working together
Appendix: List of participating firms
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