Regulatory AlertsPS23/9: Finalised insurance guidance on supporting customers in financial difficulty
The Prudential Regulation Authority and Financial Conduct Authority issued Policy Statement PS23/9 to finalize guidance for insurers on supporting customers experiencing financial difficulty. The document establishes requirements for insurers to treat customers in financial hardship with reasonable forbearance and to provide clear information about available support options. These rules aim to ensure that vulnerable customers receive appropriate assistance while maintaining the stability of the insurance sector.
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