Consumer protection

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This subtopic focuses on those aspects of regulation in the UK which relate specifically to the Financial Conduct Authority (FCA)’s Consumer Duty (Principle 12) and Treating Customers Fairly (TCF) (Principle 6) of the Principles for Businesses (PRIN), in addition to firms’ regulatory obligations towards vulnerable customers.

FCA Consumer Duty

The FCA introduced the Consumer Duty for financial services firms dealing with retail customers.

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Latest Insurance & Reinsurance News

Insurance & Reinsurance weekly highlights—27 November 2025

This week's edition of Insurance weekly highlights includes: Fraudulent insurance claims continue to top £1bn a year; MPs call for expansion of state reinsurer to cyberthreats; FSB names insurers for resolution planning and consults on RRP guidance; IAIS launches consultation on ICS-related ComFrame standards; IAIS launches consultation on revised application papers on recovery planning and resolution; IAIS publishes updated Global Monitoring Exercise and new ancillary risk indicators; PRA publishes insurer-specific results of Life Insurance Stress Test 2025 plus key cases and dates for your diary.

MPs call for expansion of state reinsurer to cyberthreats

Law360, London: The government should extend the scope of the UK's £2.2trn terrorism reinsurer to cover emerging cyberthreats, the Business and Trade Committee has said, amid growing concerns about a risk to the economy of a major attack on IT infrastructure.

Insurance & Reinsurance weekly highlights—20 November 2025

This week's edition of Insurance weekly highlights includes: AXA XL settles with lessor in US$334m stranded planes claim; Dewji v Prudential International Assurance Plc; RSA v Equitas—application of key clauses in reinsurance policies; FCA urged to act on insurers' low claims acceptance rates; FCA announces end date for Premier Insurance policies; PRA publishes discussion paper on enabling UK life insurers to access alternative life capital; PRA publishes results of Life Insurance Stress Test 2025; Commission Implementing Regulation laying down technical information concerning Solvency II reporting for Q4 2025 reference dates published in the Official Journal; EIOPA submits technical standards on new macroprudential requirements following Solvency II review plus key cases and dates for your diary.

Fraudulent insurance claims continue to top £1bn a year

Law360, London: Fraudulent claims in the UK general insurance sector rose again in 2024, with those linked to motor cover driving much of the increase, the Association of British Insurers (ABI) warned on 17 November 2025.

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