GC19/2: General insurance distribution chain: proposed guidance for insurance product manufacturers and distributors

We’re consulting on guidance for firms who manufacture and distribute insurance products.

Read GC19/2 (PDF)

During 2017 and 2018, we conducted diagnostic work on general insurance distribution chains. This found a number of harms to customers from failures in product design, oversight and distribution. We published the findings of this work in TR19/2.

Proposed guidance

In order to provide clarity to firms about our expectations, in particular in relation to the design and distribution of insurance products and the requirement to act in accordance with the customer’s best interests, we are proposing new non-Handbook guidance. The guidance sets out our expectations of insurance product manufacturers and distributors.

Who this applies to

This guidance is relevant to all firms conducting general insurance and protection business - both insurers and intermediaries. This includes firms such as retail banks, mortgage intermediaries, independent financial advisors and others who distribute general insurance and protection products alongside their primary business.

Next steps

This consultation has now closed.

We will carefully consider your feedback to this consultation and plan to issue a response in autumn 2019.