Regulatory Alerts2021-07-30
FSCA Proposed Amendments to the 2017 Policyholder Protection Rules for Public Comment
The Financial Sector Conduct Authority has published proposed amendments to the 2017 Long-term and Short-term Insurance Policyholder Protection Rules for public comment. These enhancements strengthen customer protection by mandating clearer disclosures for complex features like excess structures, bundled products, and loyalty benefits, while aligning regulatory frameworks and improving product governance. Insurers must prepare for a six-month transitional period following final gazettal, with stakeholder feedback invited until 10 September 2021 via the FSCA website.
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