The insurance market is one of the key components of a successful UK financial marketplace; from underwriters, brokers to intermediaries, these entities service both consumers and companies by supporting their appetite for risk, meaning they can go and build their futures with confidence.

Given just how important insurance services are, both the FCA and the PRA pay very close attention to it.

What we do for firms in the insurance market

We support firms with the following by assisting them to build robust, compliance frameworks, to reduce the risk of issues occurring in the future. As a result of our experience we advise clients by taking an overview of the interrelated elements of their business, before then piecing them together to effectively and efficiently manage their risk and regulation.

• FCA and PRA (depending on requirements) authorisations
• Governance structure and risk management arrangements
• Establishing and embedding relevant policies and internal procedures
• Monitoring compliance with regulatory requirements, such as SYSC, ICOBs, CASS 5 and MIPRU
• Preparation for regulatory interactions and regulatory remediation
• Review/enhancement of operational risk management framework and financial crime prevention.
• Training and competence