<section><section><section><p>This Practice Note considers the implications of the Financial Conduct Authority’s (FCA) Consumer Duty for insurers, including consideration of a number of specific issues related to the claims handling process, the calculation and setting of premiums, the suitability of policy wordings and third party involvement.</p><p>For information on the main elements of the FCA’s Consumer Duty, see Practice Note: The FCA Consumer Duty—essentials.</p><p>For guidance on the implications of the Consumer Duty for insurance intermediaries, see Practice Note: The FCA Consumer Duty—implications for insurance intermediaries.</p><p>For key developments relating to the FCA’s Consumer Duty, see: The FCA Consumer Duty—timeline.</p><section><h3>Claims</h3><p>For insurers, the process for handling claims is likely to be one of the areas which the FCA focuses on the most when assessing insurers’ compliance with the Consumer Duty. This is because, in practice, the event of a claim is where the overall value and benefit of a policy becomes known—customers purchase policies to provide them cover in the event they need to make a claim, and so this process is very much at the heart</p></section></section></section></section>