Blog: Treating vulnerable customers fairly makes commercial sense for brokers

Insurance Cares: Helen Lord, director of the Vulnerability Registration Service, explains how the new register can benefit brokers and the wider insurance industry.

The issue of consumer vulnerability is one that is being treated with increasing prominence by the insurance industry, partly as a result of the Financial Conduct Authority’s (FCA) sharp focus on the subject in recent years, but equally as there is a growing recognition that it makes commercial sense.  

The regulator has repeatedly emphasised that protecting vulnerable customers is a key priority for it, and it wants to see firms explicitly embedding the fair treatment of vulnerable consumers