Why claims management companies shouldn't escape the wrath of regulators

CMCs must be held to similar standards as advisers

clock • 4 min read

As regulators continue to, rightly, crack down on Consumer Duty offenders, they should remember that applies to claims managers too, writes Justin Cash

We're a year on from the Consumer Duty, and what a ride it's been. Fee cuts. Model changes. Paperwork. (Mostly paperwork.) Advisers have been asked a barrage of questions from the regulator. One of the many surveys sent by the watchdog that I've seen asks for details of everything from value assessments and communications strategies to vulnerable customer plans and the closed product implementation deadline. But now the landmark reforms are starting to bed in, I can't help thinking: are the businesses bringing all the complaints about Consumer Duty breaches themselves subject to any s...

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