General insurers told to rectify product, sales and distribution malfunctions promptly

By Neasa MacErlean

Allthe country’s 3,500 insurers and intermediaries are instructed to read a new thematicreview and some related proposedguidance as well as to act upon a Dear CEO letter sent to all ofthem by the FCA. Where gaps and shortcomings are found, the firms are expected“to act promptly to address them to mitigate the risk of harm to customers”.