The Training Environment For Financial Services

Financial Promotion for General insurance and Protection Products

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Background & Objectives

The last ten years have seen a huge growth in regulatory interest in general insurance sales. Financial promotions have received very uneven scrutiny since 2005. Yet, both the FCA and the Advertising Standards Authority are watching this area, looking for what may be a breach of their favourite rule here: clear, fair and not misleading. 

Making extensive use of examples, this focused half day seminar will explore the key areas that Marketing, Compliance and Risk managers need to watch out for in the non-investment insurance space.

Specifically, attending will help you:

  •     Review the impact of regulatory developments and priorities on financial promotions
  •     Update and refresh your knowledge of the relevant conduct of business requirements
  •     Examine the application of the rules in key and high risk areas
  •     Recognise the differences and similarities between promotions and other communications
  •     Check the effectiveness of your procedures
  •     Understand how the rules impact the internet and digital media
  •     Consider how you can evidence your promotions present fairly what you are offering

Course Agenda

Topics covered may include but are not limited to:

Core concepts

  • Ordinary legal requirements, ASA Code of Conduct, ICOBS 2.2
  • What is a promotion?
  • Exempt promotions – communications to intermediaries and journalists
  • Image adverts and promotions of promotions

Clear, fair and not misleading

  • ICOBS 2.2 & Principle 7 Clear, fair and not misleading
  • ASA Codes of Advertising Practice – key rules
  • Using customer compliments
  • Scaremongering
  • White labelling
  • Misleading visual imaging
  • Pricing claims
  • Mentioning the firm’s regulated status
  • Promotions clearly identifiable as such

Digital media issues

  • Pay per click
  • Websites
  • Price comparison websites

Risk management

  • Roles of Risk Management and Compliance
  • Approving, signing off and recording promotions
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