Regulatory Alerts2023-01-09
Added · Updated
PS23/9: 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 vulnerable customers fairly and provides detailed expectations for handling financial hardship cases. This finalized guidance supersedes previous consultation proposals and sets the regulatory standard for the insurance sector effective from its publication date.