Consumer Duty remains the biggest opportunity to expand protection

A recent report by the Chartered Insurance Institute (CII) highlights that assessing customer vulnerability is the biggest challenge for financial services firms. Given that the pure protection market provides products which should help reduce harms, how much of an issue is customer vulnerability for protection firms? Is there the same potential for harms? While customer vulnerability and the wider implications of Consumer Duty may present challenges for firms, it also offers tremendous opportunity – particularly for expanding protection. In line with Consumer Duty, firms must identif...