FCA product value findings

The UK Financial Conduct Authority (FCA) recently published its findings following a review regarding product value and coronavirus. While the review focussed on the general insurance sector, the FCA’s findings will be relevant to other firms as they relate to certain FCA priority items such as the new consumer duty, governance, ensuring good customer outcomes and reducing consumer harms. Below we provide some practical considerations for firms on some of the key points and how these elements can apply across a wider range of products and services.