IPAW 2022: Consumer Duty an opportunity and challenge for the IP market

Day One of Income Protection Awareness Week 2022

John Brazier
clock • 2 min read

This year’s Income Protection Awareness Week (IPAW), started with Mike Allison, director of protection at Paradigm Protect, highlighting why the Consumer Duty is a greater spur for engagement with income protection.

Speaking to Income Protection Task Force (IPTF) co-chair Katie Crooke-Davies, Allison detailed the changes coming into force under the regulator guidelines and stated that the move is intended to put "the consumer at the very heart of everything a firm should be doing." Looking specifically at how the changes will impact the income protection space, Allison highlighted that changing consumer habits are driving the need for greater awareness of the product and how that fits into the obligations both manufacturers and distributors will be working under. "We see that in most income prote...

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