Key Insurance Group Ltd. have always been for the compulsory regulation of insurance and have taken on board the new Principles Based Regulation of General Insurance by the Financial Condutc Authority [FCA].

We believe that we have always done our job professionally and the fact that we have not been involved in any disputes or complaints helps support that view.

One development of FCA Regulation that has increased our clients’ confidence in dealing with us is ‘Risk Transfer’. We hold ‘Risk Transfer’ agreements with all of our insurer partners. Under these agreement monies that we have received from you on behalf of a policy are treated as if received directly by your insurer thus ensuring that there can be no question that cover is in force.

We are committed to providing the best professional service to our clients that we can. Not only do we believe that this is an integral part of how we operate but also believe that our exacting standards should be commonplace throughout the market.

Because of that we have always embraced regulation of the financial services sector and have demonstrated this continually since 1976 when we voluntarily joined the Insurance Brokers Registration Council [IBRC].

The government hoped that the IBRC would allow the industry to regulate itself but when it became apparent that this initiative did not generate the level of consumer confidence in financial services that they were looking for the Insurance Brokers Registration Act was repealed and the job of regulating General Insurance was eventually transferred to the Financial Conduct Authority [FCS].

The FCA look to a principals based form of regulation for General Insurance and central to their retail regulatory agenda is their concept of Treating Customers Fairly [TCF] which we both endorse and have made central to our organisations culture.

The FCA have focused on 6 consumer outcomes from their TCF concept and we continually monitor, review and improve the way that we work with these outcomes in mind.

Outcome 1: Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture.

Outcome 2: Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly.

Outcome 3: Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale.

Outcome 4: Where consumers receive advice, the advice is suitable and takes account of their circumstances.

Outcome 5: Consumers are provided with products that perform as firms have led them to expect, and the associated service is of an acceptable standard and as they have been led to expect.

Outcome 6: Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

Our customers enjoy the benefits of these outcomes every time they deal with us; when taking out a new policy, throughout the life of the policy and when the policy is renewed – safe in the knowledge that we only recommend policies that are both appropriate to their circumstances and ones that we would be likely to purchase ourselves.

Key Insurance Group Ltd are authorised and regulated by the FCA. The FCA is the independent watchdog that regulates financial services and their entry about us on their register can be viewed on their web site at ;


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