Regulation, regulation, regulation: Change is coming in the UK

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In December, the UK’s Prudential Regulation Authority (PRA) set out its priorities for the insurance sector in 2021. Despite this unusual step, the regulator used the familiar format of a “Dear CEO” letter to the chief executives of insurance companies to emphasise the importance of EC3’s leadership understanding its aims.

In addition, the Financial Conduct Authority (FCA) continues to focus on ensuring equitable pricing and treating customers fairly.

This blog highlights regulations on the horizon and why nimbler insurers will navigate 2021’s uncertainties more easily.