Treating Customers Fairly
The FSA brought the TCF outcomes into effect in 2007. They define the process of:
- Analysis
- Implementation
- Embodiment
Abbey Legal Protection identified the key deliverables for its customers (insureds, insurance intermediaries, insurers and affinity groups) as claims, underwriting, advice provision and communication.
These issues are at the heart of our commitment to treat our customers fairly and have been implemented as follows:
Claims
- To properly and fairly provide cover to customers according to the letter and sprit of the policy
- To make decisions based on the facts and the merits of a case in good time to allow customers to make informed decisions on how to proceed on the their cases
- To clearly explain in writing the reasons for every decision
- To discuss and review any case with the customer.
Underwriting
- To understand the needs of the customer, insured and distributors
- To ensure products meet the needs of the customer
- To ensure that decisions and fulfilment literature are communicated in good time to allow customers to make appropriate decisions
- To support the customers throughout the year
- Prices that deliver good value on a sustainable basis.
Advice
- To ensure advice is technically correct both in Law and practice
- To ensure advice is understandable
- Deliver information about us and products
- Clarity on what products do and don’t do.
Embodiment of these principles within our business has allowed us to understand what our customers expect and measure our performance to ensure we treat all our customers fairly.
Communications
- To deliver information in a media appropriate for the client
- To provide clarity about what our products do and don't do
- To ensure that communications are both clear and unambiguous.