Cunningham Lindsey UK

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IndexPageForeword 2Introduction 5OutsourcingSystems and Controls Sourcebook (3A.9) 6Treating Customers FairlyPrinciple 6 10Claim Handling RulesInsurance Conduct of Business Sourcebook(ICOB 7) 14Intermediaries and ICOB 7Insurance Conduct of Business Sourcebook(ICOB 7.4.3) 18Training and CompetenceTraining and Competence Sourcebook(TC1 - Commitments) 20ComplaintsDispute Resolution Sourcebook (DISP) 22AuditsSystems and Controls Sourcebook(3.1.1 and 3.2.16) 26Business ContinuitySystems and Controls Sourcebook(3.2.19 and 3A.9.5) 28Client FundsClient Assets Sourcebook (5.2) 30Information SecuritySystems and Controls Sourcebook (3A.7.8) 30Financial Crime and Money LaunderingSystems and Controls Sourcebook (3.2.6) 32The Way Forward 35Contact Details 36
ForewordWe first issued this'Response to FSARegulation' document inDecember 2003 toevidence our approachand commitment to thenew regulatoryenvironment. In this fourthissue, we outline ourongoing response to thekey areas of regulationand FSA’s new drive totreat customers fairly. As before, the regulation is set outon the left and our response is summarised on the right.Loss adjusters do not require FSA authorisation whenacting on behalf of insurers. However, we still need tofulfill regulation on their behalf, whether they instruct usselectively for individual claims or appoint us as theirentire claims department.We recognise that regulatory compliance is merely theentry requirement in a market that expects consistentlyhigh levels of customer service coupled with technicalcompetence and tightly controlled claims spend. All thishas to be delivered via adjusters who fully understandand adhere to client specific requirements. Our provencapability in the delivery of branded claims solutions,claims management and loss adjusting has establishedus as the leading claims solutions company in ourmarket.We include amongst our client base the majorcomposite insurers in the UK and a range of clients fromwithin the wider traditional insurance market, includingLloyd’s, central and local government, corporate entitiesand intermediaries. We use our extensive resources tosupport a range of risk management services and otherinitiatives. We also act for a wide variety of interests,providing unbiased professional opinions andresponding to individual client needs with tailoredprocesses.In 2007 we will maintain our drive for innovation and thedelivery of new products and services. We work closelywith our clients to ensure that we are providing theservices that they require with associated managementinformation. We believe there is scope for the designand implementation of ground breaking initiatives in2007 to deliver high levels of service at a competitivecost whilst remaining fully compliant.We would welcome the opportunity to discuss any areascovered in this document, and how we can further ourrelationship to ensure that your needs for a compliantclaims resource are met. With regard to any specificrequirements you may have or receive additionalinformation regarding your own processes anddevelopments, our contact details are given on page 36.Harry RobertsDirector, Technical and Product Assurance“Managing our business to meetFSA regulatory requirements onyour behalf.”2 Cunningham Lindsey UKForeword 3
Page 1: Cunningham Lindsey UK“Regulation
Page 5 and 6: OutsourcingRegulationThe FSA System
Page 7 and 8: Treating Customers FairlyRegulation
Page 9 and 10: Claim Handling RulesRegulationThe I
Page 11 and 12: Intermediaries and ICOB 7Regulation
Page 13 and 14: ComplaintsRegulationThe FSA set the
Page 15 and 16: AuditsRegulationUnder Systems and C
Page 17 and 18: Client FundsRegulationThe Client As
Page 19 and 20: The Way ForwardIn the FSA 2007/08 o

Cunningham Lindsey UK

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