Resources
Product Governance and Oversight
On 1/10/2021 the FCA’s enhanced product governance rules came into force, effective 1/10/2022. They apply to manufacturers and distributors of all general insurance products. Fair value assessment of products is the responsibility of the manufacturer who are required to share details of their assessments with distributors to enable those distributors to identify the impact that their distribution arrangements have on the value of the product.
As an MGA Generis act as co-manufacturer for most of the products we underwrite. Since 1/10/2021 Generis has been collating data and preparing product assessments and IPIDs on all of our products, which are now attached here.
