Target Newsletter - Issue 186 February 2023

is available and to allow clients to contact firms easily. This could include:

PARADIGM COMMENT Firms that act as insurance intermediaries need to be aware of the new proposals and how they extend the Regulator’s expectations around how firms deal with clients with non-investment insurance policies in financial difficulty to include all such clients and not just those adversely affected by Covid. It also seems clear that Consumer Duty is a factor that firms will need to take into account, especially the requirement for firms to have processes in place to avoid causing foreseeable harm to clients including those in financial distress. If you have any queries, or comments about this update, please contact your usual Consultant or the Technical Helpdesk on 0161 486 4891, by email at helpdesk@ paradigm.co.uk or using the chat facility on the Paradigm website .

• Having sufficiently prominent information on general communications such the firm’s website, apps and recorded messages; • Having sufficiently prominent information on direct communications to clients such as those about missed payments; and • Looking at the different ways clients can contact firms when they need help and how these meet the different communication needs of clients. Next steps Comments on the consultation can be made using the online response form , in writing to Toby Stubbs, Financial Conduct Authority, 12 Endeavour Square, London E20 1JN or by email to cp23-1@fca.org.uk . This consultation ends on 11 March 2023 and the FCA aims to publish a final Policy Statement by the end of June 2023.

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