General issues for insurers

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This Overview directs practitioners to key materials on cross - cutting prudential, conduct and operational matters for insurers.

Authorisation and supervision under the Financial Services and Markets Act 2000 define the regulatory baseline. Insurers are dual‑regulated by the Prudential Regulation Authority and the Financial Conduct Authority, and must meet threshold conditions and the Senior Managers and Certification Regime. Prudential obligations derive from the onshored Solvency II regime, encompassing capital requirements, system of governance and own risk and solvency assessment.

Conduct requirements in the FCA Handbook include PRIN (Consumer Duty), ICOBS, PROD and DISP. Core issues include product governance and fair value, oversight of distribution chains and delegated authorities, pricing in general insurance, claims handling and complaints. Policyholder protection via the Financial Services Compensation Scheme and access to the Financial Ombudsman Service remain central considerations.

Operational resilience, outsourcing and third‑party risk management are a priority for regulators. Data protection (UK GDPR and the Data Protection Act 2018), financial crime controls (including AML for life insurance) and UK sanctions compliance are essential.

Transactional topics include change‑in‑control approvals and Part VII insurance business transfers. Substantive insurance law under the Insurance Act 2015 and...

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