Managing Conflicts of Interest - Searchlight Insurance Training

Managing Conflicts of Interest

Conflicts of interest remains an FCA priority and Principle 8 states that a firm must manage conflicts of interest fairly both between itself and its customers and between a customer and another client.  Responsibility for identifying conflicts and how to manage them should be clearly allocated to accountable individuals, and controls to reduce the impact of conflicts should be regularly reviewed.

This workshop enables participants to identify and start to manage the conflict of interest risks that exist within their firms.

Click “Check Availability” to find out which dates are available and make a booking or contact us on 01372 361177 or at training@ssluk.net . Alternatively, please let us know if you would like us to deliver this as an in-house workshop.

Level: Regulatory

Duration: 0.5 day(s) CII CPD Hours: 3
     

WORKSHOP OBJECTIVES

Explain what is a conflict of interest

Recognise actual and potential conflicts of interest

Explain the FCA approach to conflicts of interest

Describe the implications within the delegate’s firm – policies, education, recording and management

Identify the range of conflicts of interest that general insurance firms are exposed to

Plan the next steps required within the delegate’s firm

WORKSHOP CONTENT

Defining a conflict of interest

Identifying potential conflicts of interest, e.g.

  • Remuneration policies
  • Commission
  • Unfair inducements
  • Close links
  • Personal conflicts
  • Customer conflicts
  • Claims handling authorities
  • Inducements, including binding authorities, premium finance, etc

The FCA’s approach – why it is priority and what is expected of firms?

Senior management responsibilities

Establishing a components of a conflicts of interest risk management strategy to manage potential conflicts

Action planning