Our Commitment

Regulatory commitment

It is our commitment to uphold a regulatory culture which is compliant with all regulatory principles and rules, day in, day out.

Embracing the principles and rules of regulation and embedding them within our business is a collective responsibility. It is not only good for business but also a fundamental requirement for us all if we are to be the most successful competitor in our chosen markets. We aim to have a positive, open and constructive relationship with the Financial Services Authority (FSA), our principal regulator.

Customer commitment

We will treat our customers fairly and consistently, as we would wish to be treated ourselves.

Fair understanding and communication

We will:

• conduct appropriate customer research to help design our products and services
• ensure that our customers understand their responsibilities and obligations
• provide information which enables customers to make informed purchase decisions
• use written and spoken language that is relevant, easy to understand and avoids unnecessary complexity
• be clear about product terms and prices
• ensure that customers understand what they pay for
• aim to ensure that our customers do not experience any surprises.

Fair service and distribution

We will:

• give our customers the service they have paid for
• respond promptly, in a friendly manner
• only use customer information for the agreed purpose
• ensure appropriately trained staff are available
• inform customers of the nature of our relationships with intermediaries
• ensure that commission structures do not encourage the promotion of unsuitable products.

Fair claims

When our customers make a claim we will:

• ensure the customer is clear about the progress of theclaim at every stage and the timescale of the claim
• be empathetic and understanding
• act promptly and efficiently
• ensure the customer understands the extent of acceptance of their claim and any limiting policy terms and conditions
• explain the reasons for our decisions.

Fair feedback and complaints

When our customers offer feedback, or expresses dissatisfaction, we will:

• listen to them carefully
• respond quickly and effectively
• learn from the feedback and use it to continually improve our service