IDD & Conflicts of Interest – half day workshop

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Date/Time
Date(s) - 06/06/2018
9:00 am - 12:00 pm

Location
2nd Floor, Barlow House,

Descriptions

From October 2018 (IDD implementation) strict rules apply on managing conflicts of interest. This affects Insurance Brokers with Binding Authority or Delegated Authority but also all Insurance Brokers/Intermediaries because of the close relationships they have with their insurers.

The FCA make it clear that disclosing these conflicts to the customer is a last resort and they must be managed actively with written procedures. The occupation of Broking produces multiple conflicts as the Broker has to juggle his responsibility to his client, to his insurere, his staff and the business as a whole.

Come along to this morning session to find out more and understand what firms need to do and what they need to have in place.

A brief overview of what firms should be doing to prepare for the implementation of the Insurance Distribution Directive, but it will particularly focus on an area in which we believe there is a lack of knowledge and understanding of the requirements in regulated firms (not just brokers). It will include:

  • What firms need to do on Conflicts of Interest
  • Responsibility and FCA requirements
  • What are conflicts of interest and what they may be in your firm
  • Identifying and mitigating conflicts of interest
  • Having records to demonstrate what you do
  • Formulating your policy and procedures
  • Training your staff
  • Reporting to the board
  • Consequences of not getting it right including a look at recent fines

Who should attend - Directors/Approved persons of general insurance and associated FCA regulated firms. Those with a compliance role or those who have responsibility for training staff and implementing policies and procedures within the firm

Cost - £169 plus vat (includes refreshments)

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