Opinion: Michael Sicsic on protecting vulnerable customers

Michael Sicsic

Recognising vulnerability: Putting vulnerable customer guidance into practice will give a boost to customer retention and help build a stronger brand, says Michael Sicsic

Recently, the Financial Conduct Authority (FCA) published new guidance on how it expects insurers and brokers to protect vulnerable customers. 

While some good work is recognised – particularly responses to Covid-19 – the report also makes it clear that others, including some brokers, are failing to act fast or far enough. Overall, the FCA believes that leaves room for improvement and greater consistency. 

Make no mistakes about it – when the FCA issues guidance, it is not optional. 


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FCA adds four more S166s to sector

The Financial Conduct Authority has slapped the general insurance and protection sector with another four skilled person reports as the crackdown continues.

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