Insurance conduct requirements

This overview is a guide to the Financial Services content within the Insurance conduct requirements sub-topic, with links to the appropriate materials. The subtopic focuses on the conduct requirements that are applicable to insurers and insurance intermediaries in the Conduct of Business Sourcebook (COBS) and Insurance Conduct of Business Sourcebook (ICOBS). It also contains information on the conduct of business requirements introduced by the Insurance Distribution Directive (Directive (EU) 2016/97) (IDD). Finally, this section also explains the restrictions on financial promotions and will be useful for those who need to know whether their insurance related communications are subject to the financial promotion regime.

Application of conduct requirements

On the transfer of the Financial Services Authority's functions to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) in April 2013, the PRA became responsible for the authorisation and prudential regulation of firms that carry on PRA-regulated activities (such as insurers and banks). For more information about PRA-regulated activities, see Practice Note PRA-regulated activities and the scope of PRA regulation.

PRA-authorised firms are also subject to regulation by the FCA for conduct

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