Martin Werth: Most of our customers are vulnerable

The feedback on the paper Guidance for Firms on the Fair Treatment of Vulnerable Customers closed exactly a year after the Insurance Distribution Directive (IDD) became law, both of which extend a long list of regulatory obligations that put a customer's best interests and personal circumstances at the heart of the protection market.  A vulnerable customer is defined as 'someone who, due to their personal circumstances, is especially susceptible to detriment, particularly when a firm is not acting with appropriate levels of care'. Factors that make customers vulnerable include health con...