FCA Consumer Duty compliance for UK insurers: claims, pricing and reserves, policy wordings, third‑party oversight, closed products, outcomes monitoring and supervisory reviews
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Practice notes
This Practice Note explores how the Financial Conduct Authority’s (FCA) Consumer Duty affects insurers, touching in particular on key matters such as claims handling, methods for calculating and setting premiums, the appropriateness of policy wordings, and the role of third parties. It also flags important regulatory movements (including supervisory reviews) that bear on insurers’ roll‑out of the Consumer Duty. For an overview of the core components of the FCA’s Consumer Duty, see Practice Note: The FCA Consumer Duty—essentials. For commentary on what the Consumer Duty means for insurance intermediaries, see Practice Note: The FCA Consumer Duty—implications for insurance intermediaries. For a record of key milestones associated with the FCA’s Consumer Duty, see: The FCA Consumer Duty—timeline.
Claims
For insurers, claims handling is expected to be a prime area of FCA attention when evaluating compliance with the Consumer Duty. The reason is that, in reality, it is at the point of claim that the true value and benefit of the policy is revealed—customers take out policies to obtain cover should they have to claim, and therefore the way this process is managed sits right at the core of the product and upon which they bought the policy originally which the consumer...
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Web page updated on 21/05/2026
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