The regulator published its latest business plan earlier this week. The year over which it has outlined its priorities will, of course, come to an end as the UK formally leaves the EU and, assuming the outline treaty holds, begins a 21 month implementation period / transition phase. Among key cross sector priorities affecting general insurance (GI) firms are data security and resilience, treatment of existing customers (ie tackling the issue of dual pricing) and the ongoing prevention financial crime. GI specific priorities include further work on customer value in long distribution chains and on competition in the wholesale broker sector.
Alistair Kinley, BLM's head of policy and government affairs outlines the detail in this update, and summarises the principal areas of interest as and when they may impact.