Value across insurance products has been a regulatory focus for some time, but the events of Covid-19 have strengthened the regulator’s scrutiny of .. Read more the value that is being provided by policy contracts. This can be demonstrated by the FCA’s recent guidance on the value of insurance products and by their work on GI value measures and on the GI distribution chain. The regulators are also in the process of finalising their rules on value for money in the pensions space. Due to the regulator’s ever-growing interest on value for money in the general insurance and long-term savings sector, this event will focus on value for consumers and explore the regulatory expectations around the value that insurers provide. Topics of discussion for this event will include the different elements that form a definition, or approach to the evaluation, of value for money. Value for money also incorporates good customer service, accessibility, and innovation, amongst others. Other areas of value which this event may touch on include value in the distribution chain, the FCA’s work and review of product value guidance over Covid-19, and the measures the FCA has in place to assess the fair value of GI products and value for money in pensions, both in the short- and long-term.
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