Consumer Duty has upped the ante on protection in many forms, according to panellist Robert Sinclair, chief executive of the Association of Mortgage Intermediaries (AMI).
Speaking during the opening panel of the COVER Protection and Health Summit 2023, Sinclair detailed that big firms and networks have done a lot of thinking about the foreseeable harm of not having a "good, documented protection conversation", and have therefore made changes to their sales process as they have gone through Consumer Duty. "Smaller firms and one-man bands probably haven't. Small firms that have partnerships with compliance consultancy firms have probably had conversations like that, but firms that don't have that type of input are likely way off the pace," Sinclair detailed...
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